GOLD‏ (Spot) intraday: further advance 5/27/2011

Gold	5/27/2011 9:43 AM

1 week Trend:  (=)

1 month Trend:  (=)

GOLD‏ (Spot) intraday: further advance.

Pivot: 1523.00 Our Preference: LONG positions @ 1530 with 1540 & 1550 in sight. Alternative scenario: The downside penetration of 1523 will call for 1514 & 1509. Comment: the RSI has just broken above a declining trend line. Trend: ST Range; MT Ltd upside Key levels Comment 1565** Intraday resistance 1550** Intraday resistance 1540** Intraday resistance 1533 Last 1523** Intraday pivot point 1514** Intraday support 1509** Intraday support

Today's Crude Oil Support, Resistance and Pivot Points

Crude oil was slightly lower in Tuesday evenings overnight session as it extends this month's trading range. Stochastics and the RSI are oversold and are turning neutral to bullish signaling that sideways to higher prices are possible near term. Closes above the 20 day moving average crossing at 102.93 are needed to confirm that a short term low has been posted. If June renews this month's decline, the 38% retracement level of the 2009-2011 rally crossing at 92.94 is the next downside target. First resistance is the 20 day moving average crossing at 102.93. Second resistance is the reaction high crossing at 105.16. First support is the reaction low crossing at 95.18. Second support is the 38% retracement level of the 2009-2011 rally crossing at 92.94. Crude oil pivot point for Wednesdays trading is 98.76