GOLD Price Technical View - ASIAN & EUR Session: 20/10/2010

Gold hit a record high for a third time in the week on Friday as market remains concerned over FED's plan for further quantitative easing. some disappointing data from U.S also supported Gold price but a round of profit taking pulled the price back which ended marginally lower for the day.

Today's recommendation: Gold price trading between 1271-1281, could attempt to break 1282-1291 resistance. BEARISH Traders are recommended to SELL High at 1279 and Take Profit below 1270 or around 1265 during the ASIAN and EUR Sessions.

TODAY Pick: Slightly BULLISH (>1274)

Good Luck,

KEN

GFG88's Analyst

015 333390

ken@gfg88.com

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