Friday, October 3, 2008

Comex Gold: sideways with little bias upside


COMEX Gold prices slide to the low at 739.00 on 11/9/08 but managed to bounce back handsomely to hit 919 on 29/9/08, it then in correction mood and retrace to 829.30, about 50% of retracement from 739 to 919. Market likely to trade in range bound in near term with little upside bias. Immediate support put at 800-810. Overhead resistance at 910-920.