Yesterday cash gold market high 829.15,low 807.22,close 812.10. Price movement was in line with my analysis.
It tried to break 830 resistance several times in vein, then the buyers thrown in towel and sellers launch an attack sucessfully to the downside. It marched on below my initial downside target at 815 to 812.10. Our short
strategy worked out beautifully and got rewarded handsomely.
今日阻力仍在830，支撑在100日均线810 和50日均线805，805也是自10月24日681.45和12月29日891.12连接的上升趋势线的支撑点。因此，金价若想逃脱大幅下跌的厄运，多头必须誓死捍卫805防线。否则将似洪水决堤，一发不可收拾。因今晚欧洲央行议息，因此今日建议以观望为主。
Today's resistance is 830, ####### is MA100 at810, and MA50 at 805. 805 is also the trendline ####### drawn from 681.45 Oct.low and 890.12 Dec.high. If the buyer intend to keep gold uptrend intact, they have to fight hard to defend 805. If broken,then gold price could fall hard and fast.
Due to the ECB rate decision this evening, we suggest to stand aside until the event passes.
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