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Gold:

10/16/2011

9:26EST

Gold:

In respect to the amount of time that expired at 1685.50 (10/14 – 10EST)

Until 4 hours ago, in regards to accumulated volume and volume peaks.

We could well see marginally taking out the last low (1654.30 – 10/13)

Reaching 1651.70

The price action at 1688.00 and then 1672.60 will clearly determine the immediate direction and range.

1668.90/1670.10 is still in line as a potential buy; although it now has become a wait and watch level as opposed to a buy pre-order.

1651/1652 is clearly a buy pre-order

 

8:00EST

Gold:

In the event we bounce exactly at 1676.50/60

It means the immediate move is up to 1699.00/1699.10

 

7:48EST

Gold:

1668.90/1670.10 is a potential buy level

Although we may not reach it

it appears buying enters at 1673.20/1673.30

1661.70 is the immediate term support OAV (NYSE:BB)