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Gold Chart Update (XAUUSD)

Posted on August 03, 2008

Previous week action:Gold traded between 893$ and 934$ which is a 41$ trading range for the week. Open = 928$ and close 910$, third red candle in a row.However, gold did not trade below or above any significant low or high. Cyclical resistance zones: July 15 high of 988$ and March 17 high (all times high) 1032.20$.Cyclical support zones: 12 Jun Low of 857.45$ May 2 low of 845.50$....

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