Gold Technical Chart | 18-Dec-2012

Below is the technical chart of Gold, using Doda-Donchian, Doda-Bollinger and Ichimoku.

This week main level to consider is $1701.25. If Gold trade above this level, do not miss any long position and if it trades below $1701.25, take only short positions.

At the time of writing this article, Gold is trading around $1702.16. Just slightly above $1701.25. It needs to cross the resistance of kumo viz. @1706. Above that, it will start its bull run.

On the downside, $1679.11, $1666.66 and $1644.54 are the key support levels of the week.

On the upside, $1713.68, $1735.82 and $1748.25 are the key resistance levels.