FX.co ★ GOLD, Our Overview is to be Bullish, Janaury 21, 2011 (Daily Strategy)

GOLD

Gold has been in a corrective movement since the beginning of December, after setting its all-time high at 1430. Since that moment, the price of gold has already dropped almost a hundred dollars, when it first ran into the meaningful support level of 1344 dollars yesterday.

Signal of an opportunity to buy even at the present price levels. but a daily close above 1350 would confirm our bullish overview , gold is expected to begin moving upwards, towards the support levels of 1377 and 1408 United States dollars for one ounce of gold.