Friday, April 16, 2010

Gold Fails At Resistance



At the beginning of the year gold established a high around the 1160 level. Earlier this week gold tested that resistance level and appears to have failed to close above it . Today gold and silver were both down sharply.

2 comments:

Don's "Trading-In-Action (TIA)" said...

nice chart...imo, gold at $1120-$1130 level, which is where it is right now, is a good netry for long. Look out for $1400-$1500 as possible target.

DG said...

Now that it appears we may be topping out, can you show that 4-year SPX chart again? I believe you though a bottom would come in the July to October period. I'd love to see that chart you had for a while in the upper right hand corner of your site. Thanks!

DG

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