November 11, 2011 (Fri)

• Gold closed up 1.6%.
• The DMIs have crossed to the bullish side again; better still, the ADX line continues to fall, thus setting up a good position trade soon.
• Momentum is steadily up again.
• Support is at 1750 and then at the rising 20-day EMA, which is now at around 1738.
• Resistance is at 1800, and then at around 1815-1820.
• Trade for Monday: None; entering long on weakness on Thursday would have been fine for a quick trade, but entering long for a position trade carries a lot of risk, especially near a resistance level.  However, if the primary intraday chart gives a sufficient signal to do so, then I will enter long AFTER the signal occurs.