Did someone order a correction? Tuesday, just before the US tax story reaction: Gold Forging Fresh Highs, Eyes Key $1450 Level; RES 4: $1487.10 Trendline from 10 Oct 2008; RES 3: $1465.20 Oct 14 resistance line; RES 2: $1450/1451.5 Psychological level, May 14 resistance line; RES 1: $1440.3/1443.6 Resistance line from 3 Dec 2009, Nov 18; CURRENT LEVEL: $1430.30; SUP 1: $1407.1/1410/1410.3 5-day moving average, Nov 10 & 8 highs; SUP 2: $1398/1400/1402 Nov 5 high, Psych level, Former 78.6% $1424/1330; SUP 3: $1394.20 Nov 4 high; SUP 4: $1388.10 Former 61.8% Fibonacci of $1424/1330; COMMENTARY: Gold (was) forging fresh highs despite RSI and momentum looking slightly neutral and all entering overbought territory. The daily Bollinger band (was) widening and gold (was) testing the limits of the band. Initial resistance (was) seen as the Dec 2009 and Nov 18 resistance lines at $1440.30 and $1443.60, respectively. Further resistance (was) seen as the $1450 psychological level and the May 14 resistance line at $1451.50. Some say Obama just took the highway to hell, we shall see.
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