Intra-day, daily and weekly charts are all still bullish. In last night trading the gold price hit right on the down trend resistance from the March 2008 high and was repelled.
I think we will have another crack at it tonight, but what interests me more than anything is how strong Gold was in the face of a very strong dollar.
This is a fairly unusual event and gold may be signalling that it is preparing for a major break higher.
A break above the downtrend from March 2008 would be the first step, a break above $900 would signal a test of the 2008 high and a break above that of course puts as in un-mapped territory.
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- all charts still bullish
all charts still bullish
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