….After yesterday’s mauling which saw the metal plunge to around $1705 .60 on sovereign debt concerns as short term investors cashed in on Friday’s rally. There was talk of a possible ‘fat finger’ behind the move, but the more likely reason is a sell order of over 7,500 contracts (100 ounce a piece) hitting the market as the Comex opened
Asia’s seen a small drift lower from $1724 high’s currently sitting around $1720. Support is seen towards $1708 and $1700, ahead of 100 day MA currently around $1694.75. Initial resistance is noted towards $1730 and then $1740.
