Gold setting stage for next bull run | 13-Oct-2011

Here is a technical chart of Gold with Doda-Donchian and Doda-Bollinger Bands indicators.

Both Doda-Donchian and Doda-Bbands have given buy signal on this chart. But here I’ve used Ichimoku Kinko Hyo indicator to show that even there it’s bullish breakout. Seems, Gold is preparing itself for next bull run. Following are the major figures.

Stop-loss – 1630

Target – 1704, 1758

Resistance – 1692.08

Support – 1615.95