GOLD Forecast Feb 04 - 08

It was a volatile week for gold. After gaining $27 by Wednesday, it then went on a roller-coaster ride of $20 until it closed slightly higher at 1667.60 . With its weekly high getting lower and most of the time prices are below EMA100, we are in the opinion that a further slide may ensue, in line with the bearish channel. A possible spike may test critical resistance at 1680.00 , and when it manage to hold ground, then the downside movement may expose the following supports; 1652.00 , the weekly low and ultimately 1642.00 . A failure at the critical resistance may expose 1693.50 as a prime upside target.

Emas telah melewati minggu yang berkecamuk. Setelah mendapatkan keuntungan sebesar $27 sehingga Rabo, ia melanjutkan dengan pergerakan roller-coaster sebesar $20 sehingga menutup sedikit lebih tinggi di level 1667.60 . Dengan level tertinggi mingguan berada dibawah dan pergerakan lebih banyak dibawah EMA100, kami berpendapat bahwa penurunan harga emas akan berlanjut, sejalan dengan bearish channel. Kemungkinan akan berlaku taji keatas untuk menguji resistan kritis di level 1680.00 , dan apabila ia mampu bertahan, maka pergerakan ke selatan akan menelanjangi beberapa support berikut; 1652.00 , level terrendah mingguan dan terakhir di level 1642.00 . Kegagalan di resistan kritis akan membuka kesempatan untuk mencicipi sasaran atas di level 1693.50 .