June 19, 2006 - ZGQ 06 futures (Gold) 60 min chart analysis.
#1 Price Map from May 06 2006 (left on the screen)
#2 Price Map for last 4 sessions. (right on the screen)
Bias: Long.
Long from 565.70. Aggressive swing long entry is 571.10 with stop bellow 569.10. Idea is, if 569.00 fail, 565.70 has likelihood to be tested
Supports:
565.70 – Bottom range of Red Value zone (estimated value accepted by market within last 4 sessions.
Also, as floating pivot from June 13.
570.30 – nearest floating pivot and Red Value bottom range of last 4 sessions.
Resistances:
592.30 – weak resistance as double width of Red Value zone of the last 4 sessions.
603.20 – “Hole” (rejected by market price range [Price Map #1])
612.80 – first Red Value zone’s price peak level (Price Map #1)
