Smart Traders Smart Solutions Gold (Thursday 08th May - TopicsExpress

Smart Traders Smart Solutions Gold (Thursday 08th May 2014) Dear Clients The metal dropped sharply yesterday after failing to remain stable above 1309.35 and achieved the stop-loss suggested in yesterdays recommendation, but failed to break below 50% correction at 1285.00 showing on graph. The downside move is only a retest to the bearish resistance level that started from the top 1387.00; as the price is close to 50% correction, we will bet today on an upside move only by counting on stability above 1285.00 and the referred to bearish resistance that was previously breached. Support: 1285.00, 1280.00, 1277.90, 1272.00, 1266.55 Resistance: 1293.00, 1296.60, 1300.00, 1305.00, 1309.35 Note: Im prefer HOLD our half of SELL position with Stop Loss at Breakeven for running with trend now and will react later if any. Thank You & Good Luck, Ridzuan FX

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