Monday, May 30, 2011

Gold Going Higher? Daily Chart 5/30 6:45PM CST

(Chart 1 - Gold Daily Chart Zoom)
(Chart 2 - Gold Daily Chart)

If gold can get back down through the support zone that it just broke out of (1501-1464), then I think it will fall to 1350. If that fails it is headed to 1200.

However, I still think given the way it acted when in the 1501-1464 zone most recently, we are headed up. I think any test of the 1520-1480 area can be used to buy and accumulate a position for a scalp to 1560 and an ultimate target of 1615. You are wrong if it trades convincingly under 1464.


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  2. No problem thank you for the comment.
    Keep checking back and tell your friends and colleagues to do the same!!! ;)

  3. Note: See my recent silver posts.
    After ADP and the weak jobs numbers I have changed my tune and have actually been short gold and silver for a day or 2

  4. The value of gold will never decrease. I found your post quiet helpful for my project report. Thanks for sharing such important details.

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