HXPM Gold market reviews on Apr. 11th, 2011: Correction believed to be ended as key resistance breached

Daily Gold Review: http://www.hx9999.com/en/trend_672.html

Market Reviews of the Pervious Day:
During NY session on 8 April, the greenback extended loss on continued zero interest policy as well as risk of government’s failure in reaching agreement of financial budget. The dollar index fell below 75, hiting the lowest since Dec 2009.
Gold jumped on 8 Apr and hit record on the support of the stronger euro. According to Commerzbank AG, prices of precious metals were being pushed upwards by the weakening greenback and inflation risk partly induced by high oil price, and also the massive investment demand. Say the holding of SPDR Gold ETF had increased to about 12 tons, the highest since Jan,  within a single day on 7 Apr.
Key Economic Data and Events:
GMT+8 07:50 Japan Core Machinery Order (Feb)
GMT+8 14:45 France Industrial Production (Feb)
GMT+8 24:00 U.S. Speech of Janet L. Yellen from Federal Reserve
Gold:
Gold opened at 1458.61 USD on 8 Apr, with intra-day Low at 1456.70 USD and intra-day High at 1475.20 USD, eventually closing at 1474.78 USD. Intra-day range of 19.50 USD was seen.
Gold jumped and hit record again on Friday. As the connection of the highest of 9 Nov and 7 Dec last year was broken, the structural correction should have ended.
The upside trend since 1 Apr could be devided into 5 parts that gold might experience some adjustments at high level. The moving range should locate at 1475-1450 USD recentl.
There was apparent upside trend according to daily chart while technical indicators had been recovering.
Trading suggestions:
Recommend partial close for Long Position due to some correction may be occurred and buy on dip then.

Silver: upward breakout to approach upper target.
Silver opened at 39.67 USD on 8 Apr, with intra-day Low at 39.51 USD and intra-
day High at 40.95 USD, eventually closing at 40.93 USD. Intra-day range of 1.44 USD was seen.
Silver broke through upward on Friday, closing with a long bullish candlestick. Price was approaching the target of part of the circle.
Upside trend continued according to daily chart while technical indicators further improved. Target of part of the circle should be distributed at about 41.50 USD.
Trading suggestions:
Long position is suggested to hold. Investors should continue long-term strategy and look for buying opportunities. The upper target should be at 41.50 USD.