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[Master Che]

WEEKLY REVIEW/OUTLOOK: 11/13/11 GOLD: We failed to close above the weekly pivotal resistance at 1797.00 Yet we closed above the weekly support pivot at 1729.40 (BULLISH) It was our 1st complete bar (weekly) close above the support pivot Which means the move up to 2312.40 is still active. 1753.10 is the immediate attraction level upon any pullbacks It’s the new support OAV from last week In addition We have a key support pivot at 1753.00 (1440 minute chart - Daily) Last week; every day we closed above the daily support pivot (VERY BULLISH) Majority of the time trading between 2 major pivots creates a choppy often whipsaw price action; the immediate move is up to 1817.20, but the next 19 hours of trading are profoundly important regarding new weeks direction and range. Not trading above 1804.40 within the 19 hours is bullish taking us IMMEDIATLE straight up to 1859.20 after 1859.20 we continue up to 1872.20 although slow and choppy with sharp drops followed by a slow gradual rise; on the way up 1827.20 is a hidden land mine Trading above 1804.40 within 15 hours is not bullish and as such profit must be taken (longs) in accordance 1775.40 is the support pivot for 1817.20; actually the support pivot begins at 1777.60 we have decent support at 1781.80 In conclusion: The fact that we closed every day last week above the Daily support pivot is very bullish and the result of this bullish price movement is up to 1859.20; only in the event we close below 1753.00 is this very strong buy signal canceled