All That Glitters Is Gold

gold-daily-5-feb-09

Please click on the Daily Gold chart on the left for a bigger picture view.

Although we remain headed towards the 1000 level and beyond in the coming months, i cant help feeling we may dip back towards 850 before mounting the next assault. I am a little concerned at the RSI and Stochastic which have turned down from oversold levels and may put a little downward pressure on the holiest of holy precious metals.

Personally, i would be leaving orders ahead of 850 and again ahead of 830 with a stop below 800 and be feeling pretty safe.

Featured Videos