Gold

[Bieela_cute]

Elliott: correction zigzag 1776.56
Current upmove should be ended around 1771.05 - 1775.21. Any correction consolidation should find support in 1762.92 - 1758.94 zone.
Technical points
Key point 1,767.7800
Entry point 1,762.7700
Elliott 1,757.1200
Closing 1,767.2500
Projection 1,771.9700
Trendline 1,758.5900
Trendline 1,760.0600
Supports / Resistances
Res 2 1,783.1600
Ex-High 1,774.8500
Res 1 1,775.2100
Pivot 1,766.9000
Sup 1 1,758.9400
Ex-Low 1,758.5900
Sup 2 1,750.6400

[Orel]

~~~~~I continue to hold a long position in gold candlestick on the daily chart configuration - bullish engulfing, the dollar index charted southern trend is likely gold will go to the North as well as the silver showed a retreat from the bottom of the channel.~~~~~

[kakpay]

Gold is still moving in a limited daily war since yesterday. After briefly weakening in asia market opening, now prices rebounded. This appreciation has led gold to almost touch the resistance level 1 daily (1767.00). Estimated gold price in a span of a few hours will be weakened temporarily given the conditions at tf h1 stochastic signal indicates overbought area.

[nurdiantofxwave]

Now, price move up strong with positif sentiment. Price also break daily ressistance 1 level (1767.00). This condition can make price going up again but can not get support from signal stochastic in tf h1 that shown in overbought.

[secret alibi]

Bias is neutral for nearest term to stay on
potential trading range around 1754 – 1770
area. Break below 1754 area is needed to
continue the bearish bias targeting 1741 area.
While a break above 1770 area should change
the bias into bullish testing 1780 before
targeting 1795 region.

Resistance Level : 1780, 1795, 1810
Support Level : 1754, 1741, 1728
Trading Range : 1754 – 1780
Trend : Neutral

[tradergalau]

Gold still moving around the 1759.04 support level. Beside that, I see the yesterday's movement only occur in small range. So, I think Gold may shows a breakout movement today.
If Gold can break the yesterday's high, I think Gold will go up to the resistance level at 1778.97 or higher. But if Gold can break the yesterday's low, it mean Gold also break the 1759.04 support level. It may makes Gold fall to the lower support level at 1740.05.

[raihan8212]

Gold prices fell in Asian trading on Thursday after Standard & Poor's said it down****ed Spanish sovereign debt, which sent investors rushing to the safety of the dollar, gold's traditional hedge.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were down 0.23% at USD1,761.05 a troy ounce, up from a session low of USD1,760.45 and down from a high of USD1,763.15 a troy ounce.

Gold futures were likely to test support at USD1,758.85 a troy ounce, Wednesday's low, and resistance at USD1,769.85, Wednesday's high.

Standard & Poor's said it lowered Spain's long-term credit rating to 'BBB-' from 'BBB+' and cut its short-term credit rating to 'A-3' from 'A-2'.

The ratings agency said Spain's deepening economic recession is limiting the Spanish government's policy options and added that rising unemployment and spending constraints are likely to fuel social discontent and contribute to friction between Spain's central and regional governments.

"In our view, the capacity of Spain's political institutions (both domestic and multilateral) to deal with the severe challenges posed by the current economic and financial crisis is declining," Standard & Poor's said in a statement.

The news sparked demand for the dollar, which sent gold dipping in the Asian session.

Meanwhile, IMF statements pointing to the European debt crisis as the global economy's strongest headwind fueled a risk-off trading session that sent the dollar up and gold down.

Monetary stimulus programs underway at the Federal Reserve have already been priced in and are no longer giving gold support.

The U.S. Federal Reserve is currently running a third round of quantitative easing, a monetary stimulus tool that sees the U.S. central bank buy USD40 billion in mortgage-backed securities a month on an open-ended basis to spur recovery.

Such policy tools weaken the greenback and make gold an attractive hedge.

Elsewhere on the Comex, silver for December delivery was down 0.65% and trading at USD33.888 a troy ounce, while copper for December delivery was down 0.43% and trading at USD3.702 a pound

[romannil]

Gold technical analysis for 11.10.2012 by using : Auto pivot indoicator.

resistance 3:1777.86
resistance 2:1772.67
resistance 1:1766.93

pivot point :1761.57

support 1:1755.83
support 2:1750.47
support 3:1744.73

[Bieela_cute]

Elliott: irregular flat correction down 1751.13
Current fall is near an end of wave around 1756.83 zone, a rally should then procede to above 1768.06. Fall below 1751.36 would cancel this scenario.
Technical points
Key point 1,757.3900
Entry point 1,759.4100
Elliott 1,796.0000
Closing 1,762.3000
Projection 1,743.4700
Trendline 1,766.8300
Trendline 1,756.8100
Supports / Resistances
Res 2 1,773.8200
Ex-High 1,768.3500
Res 1 1,768.0600
Pivot 1,762.5900
Sup 1 1,756.8300
Ex-Low 1,757.1200
Sup 2 1,751.3600

[Orel]

And I think that the change trend is early to say, gold has formed a clear sloping support line (and uplink), has just held the consolidation and retreat to the north of this line, the goal until the maximum 1793 + -.