GOLD, bulls strike back


In my previous two analysis I have pointed at the 1300/05 as strong support and posible turnover point and as the sellers have failed to reach daily MA100 on September 01., the bulls have take over the precious metal. In the last two days, the resistance level on 1328/32, in wich I have pointed in my previous analysis, hold the pair, but not today. ISM data for August shows the lowest numbers since Januar 2010 (51.4 VS 55.0 expected) and the bulls have take that advantage and reached he next strong resistance at 1340/45. Is this strong enough to hold now? Possible, despite the US dollar is very weak in the market after the data.


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