PRECIOUS METAL PRODUCERS

[NYBob]

Gold has adopted a consolidative tone after Monday's
corrective activity left solid supports at $730
and $720 unthreatened.
Good intervening support is now noted at $747.50/00
and $745.50.
While further short term tests of the downside can not
be ruled out, setbacks should be viewed as buying
opportunities.

A rebound above $762.00/50 and $768 is needed to clear
the way for a retest of last week's high at $771.75.
Further out, the dominant uptrend continues to suggest
potential for tests above $800 with key resistance
defined by the $875.00 all time high from Jan-80.

dd....
http://www.goldcorp.com

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