Gold price create a new high for 2011 at 1440.44 on yesterday due to riot in Libya. As usual, whenever we face a uncertainty or fear… we will looking for something safe such as gold and silver.
But now gold price start to reverse and currently testing its lower trendline on 1 hour timeframe. Frankly speaking, I do hope gold price will breakout the lower trendline (either for retracement or bearish).
Break the lower trendline will bring the price to test 62% fibonacci level on the chart. Then let see what will happen tomorrow.
PS: Hey Gaddafi, could you stepped down and let the market relax? Oughh..you only make me toying with the market.. LOL!