Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

GOLD

10/27/11

8:54EST

Gold:

No major change

1729.40 is the (MAJOR) key resistance level

a daily close above that it, means we’re heading up to 1771/1773

MUST stay above 1666 in order to keep the potential move up alive

 

Now Term:

The BB is at 1718.40

1709.30 is pivotal support

1702.80 is a potential bounce level

I’m still expecting a pullback down to 1686/1687

Although now the potential pullback could reach 1678.80 to 1682.90

At 1702.80 the immediate picture can change

Never the less use the BB at 1718.40 to determine immediate direction

BB = Bull/Bear divider