Iomega Corporation

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Monday, July 17, 2006

Gold still mantains Healthy.

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Gold Did cross 30 Min Chart - 200 Moving Average

Gold does mantains Strong support at 645-648 Level.
We assume if it crosses 645 - It should get rejected at 640, where 1 Hour chart - 200 Moving Average Lies.
If it doesnt do like that, we shall see again Down Leg.

Right now its $30 Down

676 to 646

At current Geo-Political Situations, Precious Metals shall continue Rising, Such Dip is considered to be Healthy.
And we consider $30 DIP to be Healthy dip, and a Long one.
This consider to be a Profit taking for the LONG HOLDERS at 645 - 650 level, who went Long and Closed there positions at 670 level,
645-648 level has approached again, and we shall see New Buying Channel to start again.

We still eye 686.

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