GOLD Forecast Dec 03 - 07

The bulls were absent and Gold did a >US$30 free fall midweek and recorded a weekly low 1705.75 . Though it recovered more than 75% of the drop but was held back by EMA100 and closed low at 1713.30 . With a double bottom being formed, the normal target shall be at 1755.80 , but there are doubts because it has to pass through the critical resistance EMA100 at 1727.50 and top bearish channel at 1742.50 . On the downside, we have a critical support waiting to be breached at 1703.50 , once taken out, we might see the weekly target at 1686.60 . A possible spike might expose November’s low at 1672.35 .

Para banteng tidak hadir dan Emas melakukan terjun bebas senilai >US$30 pada pertengahan minggu dan mencatat titik terrendah mingguan di level 1705.75 . Walaupun ia mampu berbalik lebih dari 75% dari penurunan tetapi tertahan oleh EMA100 dan menutup perdagangan di level 1713.30 . Dengan terbentuknya double bottom, sasaran yang wajar berada di level 1755.80 , akan tetapi ada keraguan karena ia harus melewati resistan kritis EMA100 di level 1727.50 dan top bearish channel di level 1742.50 . Di areal harga rendah, menanti di bawah, ada support kritis di level 1703.50 , dan apabila jebol, ada target mingguan di level 1686.60 . Kemungkinan terjadi taji untuk mengekspos level terrendah bulan Nopember di level 1672.35 .

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