Chartechnisch ein starker Boden bei 822.10 $ dann Widerstand bei 850 und 864.80 $.
Heute und morgen geht das Tauziehen weiter...Enrico Orlandi ist sofort ein Kaeufer wenn die $ 850 + zu sehen sind.
Den Sicherheitsgurt anlegen in den naechsten zwei Tagen, jetzt gehts um die Wurst naemlich um die 850 oder 822.
Hoffentlich kommt Ballerina heute zum Dienst und lenkt die Gangster ab um die Mittagszeit.
Note that this is well below what I consider:
To be strong support at $822.10 and quite bearish.
You always learn more about a price when it goes against you than you do when everything goes the way you anticipated and today was no exception.
Much to the surprise of the bears, buyers came out in force, and when it said and done the December gold closed up $4.10 at $829.80.
This put some much needed distance between the current price and the $822.10 support.
If gold can follow through tomorrow, it will encounter stiff resistance at the $850.00 level (reddish-green line) and then again at the $864.80 level.
I like what I saw today, for the first time since the bounce at $777.00, and will look to add on with a close above $850.00.
I also expect to see a lot of volatility on Thursday and Friday so fasten your seatbelts.
http://www.gold-eagle.com/editorials_08/orlandini082708.html