Gold has very good support in the range of $1156-$1146; Gold has taken support @ $1157(low) on 5th May 2010 and jumped back to $1174.
The right shoulder of Inverted head and shoulder formation expanded bit more than usual after breaking above neckline, however the Greece
debt concern still holding Gold up even after recent panic in Industrial metals. Gold must cross and close above $1192 (the recent high on 4th
May 2010) to complete the target of $1248 indicated above in chart, however any point of time Gold cross and close below $1124 will
invalidate the Inverted Head and Shoulder formation target. Keep an eye on "Non-farm Payroll" releasing on Friday 7th May 2010.
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