Commodity Technical Outlook GOLD 24 10 11

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GOLD: With a reversal of its previous week gains seen the past week, Gold looks vulnerable in the new week suggesting a follow through lower on the back of bear threats.

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Slide 1:

1 Monday , 24th of Oct, 2011 COMMODITY TECHNICAL OUTLOOK GOLD GOLD: Takes Back Gains, Vulnerable To The Downside Towards 1,595.75. GOLD: With a reversal of its previous week gains seen the past week, Gold looks vulnerable in the new week suggesting a follow through lower on the back of bear threats. That vulnerability could see the commodity weakening further towards the 1,595.75 level, Oct 04’2011 low where a violation will aim at the 1,532.90 level, its Sept’2011 low. Below here will resume its weakness towards the 1.500.00 level, its psycho level ahead of its July 01’2011 low at 1,478.05. Its weekly RSI is bearish and pointing lower supporting this view. On the upside, to restart its corrective recovery, the commodity will have to return above the 1,693.95 level. This will open the door for further strength towards the 1,702.31 level, its Aug 25’2011 low. We expect this level to reverse roles and provide resistance thus turning the commodity back down. However, if taken out, further recovery strength should build up towards the 1,754.55 level, its Sept 23’2011 high . To read the full version of this 7 model currency analysis click here FXT Technical Strategist Plus FXTechstrategy Team info@fxtechstrategy.com www.FXTechstrategy.com The Ultimate Technical Research on Forex

Slide 2:

2 This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are those of FXTechstrategy.com own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which FXTechstrategy.com incurs any responsibility. FXTstrategy.com does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report. Click here for full disclaimer

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