GOLD, the buyers have ‘licked’ daily MA200!

mario urlic forex gold 02.06.

With high at 1130.46 today, the buyers have fail to reach daily MA200 for $0.6, but the trend line is still on place and want let go. As I pointed in my gold analysis from January 28., the buyers have took over the precious metal at 1108 on Friday, exactly at my support point and reached the trendline yesterday at 1129.76, which has become resistance once again during the Asian sesion. Strong resistance and very important level in my point of view at 1135/40 still stays untouched and the gold is heading back today. For now 1124 is the low, but there is no stronger support here, not until 1115 > 1100/05 again. This is not level for important entry decisions, not as I see it, but the buyers still remain in control.

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