Frankly speaking I don't follow the market continuous lately, since I have a little urgent family's matter. Though As far as I can see, if anyone of us has buying gold especially in the derivative market, should be very careful.
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| Gold Chart |
With the broad outline that the fundamental is still not good, and thanks to US Data Payroll came weaker than expected made the gold reaches new high to 1601, completing the fourth wave and in the coming weeks we may see the bearish (5th wave).
If we see the technical outlook, gold has a strong support at 1520 -1525. As long as the price doesn't break the line, we could hope that gold still play in the range trading zone. But I guess it still has bigger room to go down at least at 1375-85. Just maybe :)
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