As discussed before, Gold's choppy recovery from 1044.5 should have completed at 1131.5 already after failing to sustain above 1126.4 resistance. Intraday bias remains on the downside for the moment for 1044.5 low and below to extend the whole correction from 1227.5. On the upside, above 1108.8 minor resistance will turn intraday bias neutral again. Also, note that break of 1131.5 resistance now should confirm that fall from 1227.5 has completed with three waves down to 1044.5 and should bring retest of this high.
In the bigger picture, outlook remains broadly unchanged. Price actions from 1227.5 are treated as corrections to rise from 931.3 only. Hence, even in case of another fall, downside is expected to be contained by 100% projection of 1227.2 to 1075.2 from 1163 at 1010.7, which is close to 1000 psychological level and bring long term up trend resumption. Decisive break of 1163 resistance will indicate that such correction has already completed and the long term up trend is set to resume for another high above 1227.5.[Written by Oil N' Gold]
"P&F
GOLD1440 Box Size30X2 or(7.98%) CLOSE
Data 1215.1 - 288.39
~ 96 Month ~ 2943 Day
Database 2000 records 1094.73 (Last Close)
2002-02-04 00~00
2010-02-25 00~00 (GMT+01:00) Paris
BJF Trading Group chart"
1200.00|~3OOO|____________________________________ X____|1.24%|316.1%
1170.00|~6OOO|____________________________________ Xo___|3.71%|305.7%
1140.00|~9OOO|____________________________________ XoX__|6.18%|295.3%
1110.00|~12OO|==================================== XoXoX|8.65%|284.9%
1080.00|~15OO|____________________________________ Xo_oX|11.12%|274.49%
1050.00|~18OO|==================================== X==o=|13.59%|264.09%
1020.0|~21OOO|____________________________________ X____|16.06%|253.69%
990.00|~24OOO|________________X_____________X_____ X____|18.53%|243.29%
960.00|~27OOO|________________Xo__X_________Xo__X_ X____|20.99%|232.88%
930.00|~3OOOO|________________XoX_Xo________XoX_Xo X____|23.46%|222.48%
900.00|~33OOO|______________X_XoXoXoX_X_____XoXoXo _____|25.93%|212.08%
870.00|~36OOO|______________XoXoXoXoXoXo__X_Xo_oX_ _____|28.4%|201.67%
840.00|~39OOO|______________Xo_o_o_oXoXo__XoX__o__ _____|30.87%|191.27%
810.00|~42OOO|______________X______oXo_oX_Xo______ _____|33.34%|180.87%
780.00|~45OOO|______________X______oX__oXoX_______ _____|35.81%|170.47%
750.00|~48OOO|______________X______oX__oXo________ _____|38.28%|160.06%
720.00|~51OOO|______________X______o___oX_________ _____|40.75%|149.66%
690.00|~54OOO|________X___X_X__________o__________ _____|43.21%|139.26%
660.00|~57OOO|________XoX_XoX_____________________ _____|45.68%|128.86%
630.00|~6OOOO|________XoXoXo______________________ _____|48.15%|118.45%
600.00|~63OOO|________XoXoX_______________________ _____|50.62%|108.05%
570.00|~66OOO|______X_XoXo________________________ _____|53.09%|97.65%
540.00|~69OOO|______XoXo__________________________ _____|55.56%|87.25%
510.00|~72OOO|______Xo____________________________ _____|58.03%|76.84%
480.00|~75OOO|______X_____________________________ _____|60.5%|66.44%
450.00|~78OOO|____X_X_____________________________ _____|62.97%|56.04%
420.00|~81OOO|__X_XoX_____________________________ _____|65.43%|45.64%
390.00|~84OOO|__XoXo______________________________ _____|67.9%|35.23%
360.00|~87OOO|X_Xo________________________________ _____|70.37%|24.83%
330.00|~9OOOO|XoX_________________________________ _____|72.84%|14.43%
300.00|~93OOO|Xo__________________________________ _____|75.31%|4.03%
270.00|~96OOO|____________________________________ _____|77.78%|-6.38%
Column||||||||324232626543429255334863374242642342 14232|
Count|||||||||____________________________________ O____|
BJF-Trading-Group_Excel_Chart
