Wednesday, September 02, 2009

Gold Makes A Move



Today GLD moved above the key level of 95.25 which I've been watching for quite sometime. Gold opened higher today and never looked back and closed right near it's high for the day. If you look at the above chart you'll notice that GLD has moved outside of its symmetrical triangle. Given today's price action, I am bullish on gold with a tight protective stop below 93.00. I am looking for GLD to test the 100 level

2 comments:

Anonymous said...

Is your stop right at today's low? Also, based on your experience what do you see as the potential target for this break out?

With TLT and Gold both breaking out of their ranges on the same day,I guess it is a bad omen for stocks.

Thanks,

Kevin said...

Read my post...All your questions have already been answered.

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