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Gold/Mining/Energy : A to Z Junior Mining Research Site

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To: 4figureau who wrote (2109)	12/16/2002 9:47:18 AM
From: 4figureau	of 5423

CSFB Research and Analytics: Gold to correct before retesting $335/40 - CSFB Technical Analysts say Spot Gold has achieved initial technical $335/40 target. Spot Gold enjoyed a surge to the upside last week, following the completion of a bullish triangle. However, the rally was effectively capped by medium-term resistance in the $335/340 zone. This area encompasses the 50% retracement of the $417/$251 bear trend, and also the highs of 1997 and 1999, and should continue to act as a formidable hurdle. In the very short term the market appears overstretched, suggesting that a corrective dip may be seen. A break below support at $330 will add weight to this view, targeting $327/325. This area is set to hold, to provide the platform for a fresh assault on medium term resistance in the $335/340 zone. An eventual break through here will clear the way for a more extended bull phase, to target $365/375 then $400 longer term.

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