Nasder's comments:
Citigroup’s stock fell 35% last Friday showed 60% dumping last week and worrying of a deeper crisis made gold soared as investor seeking for safety. Seem this strong bounce momentum would give the unit keep going. However, gold would be facing profit taking as investor need cash for loss covering in other markets if any positive settlement by Citi and US regulators.
Currently, the unit have key support at 789 and 778, resistance at 835 with a mirror resistance at 806 and 810.
Support / Resistance: as chart
Recommend:
1/ Sell spot: 805-806
SL: 812
Target: 791
2/ Buy: 791-789
SL: 785
Targets: 805, 810 and 817