Spot Gold last @ 1019.8- Recent low 984.7; view bounce off this as a successful test to shakeout some weak longs. This was necessary for the rally to sustain in a healthy manner.
- Key overhead long term resistance remains at 1030.8 = Mar08 high. Add to long position on break.
- Against Sterling, the charts look even better. Weekly is embarking on a series of higher highs and higher lows (= uptrend), having made a nice rounding bottom. Last 637. 700 looms large.
Addendum 06Oct09 8:44 pm : Buy stop-in filled at 1032.1, 1.2% EAR.
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