Gold is above $925, it should sent NCM to $33 on Monday again, but given $33.5 is a big resistance level. Gains are limited for short term. US dollar is still holding up well against others. LGL is at $3.13, and resistance level would probably be $3.40 from May, June, July 08, their both gains should be 10% short term max. They are both very alike, NCM $31 LGL$3.1 both 52 weeks high: NCM $40, LGL$4.0
I also had noticed that the last three trading sessons for Gold was when DOW jumped, gold tanked, vice-versa. Given Obama's package gets approved next week, punters would jumped back to stock for a quick buck and dump gold. Short term for NCM maybe $35 max, longer term picture is if this Obama's package fail to save the world this will create more debt, and Gold will rally again. It is not a question of if but when. But short term play would probably be exit at $33~5, and reload again on pull backs. Over the last few weeks, seems like you can make a few bucks just play in the range of $30~$33. Dow somehow manage to hold above the 8000pts, if Dow jumps, gold drops, just seems like that at the moment.
Any thoughts please?
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