Commerzbank technical analysis on gold is looking for it towards $2000:
- is on course for the 1921.50 September 2011 high
- there is room for an overshoot to the top of a 49-year channel at 1983.00 … our long-term target … should hold the initial test and provoke some profit taking
- Forays above 2000 are expected to remain short-lived"
Support is offered by the 55-day ma at 1797
- and the four-month uptrend at 1795
- Below 1795 lies the 1765 May high. This guards the 1670 June low.