Gold Penetrated $1700/Troy Ounce
26 January 2012 15:31:33 WIB
XAUUSD
Gold price is rocketed and stay around 1712.85 at yesterday trading session. Current bias of gold is likely flat and testing the resistance at 1727.94. Technically refers by CCI and Stochastic movement was likely bearish, Gold potential correction aiming the nearest support area at 1697.76 until 1680.88 if the resistance holds. On the contrary ignore the potential correction if the resistance is penetrate because potential trigger the further upwards to 1727.94.
Oil
The movement of Light sweet crude oil prices on the hourly chart seems likely testing the upport at 99.71 after previous appreciated until 100.38 at yesterday trading session. But if the support at 99.71 is broken, any chance for a rebound with the farthest estimation rebound is around 100.38 up to 101.05.
