Gold (GLD) - The Rally Continues
The metals continue to rally as the uptrend is really beginning to accelerate now. At some point we will get a correction as my upside targets have been reached today for gold and silver. For those of you who are long and looking to let profits run by trailing a stop, you might want to consider using the 20 day exponential moving average. This average has done a good job at containing all of the minor pullbacks since August so any close BELOW this moving average might indicate that a larger correction may be at hand.
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![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_4.gif)
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2 comments:
It sounds like a reasonable suggestion. I'll continue to hold my position until the 20-day EMA is closed below. It'll be interesting to see just how Gold reacts when the dollar finally gets a bounce. The dollar could rise on proverbial European debt worries, but those same worries could continue to push Gold higher despite the strengthening of the dollar. 20-day EMA is therefore a good level to keep an eye on.
Hi Kev, would you care to give an update on the gold miners XAU especially if a correction is due
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