GOLD 0.51% $1,391.7 gold futures

Intra-day, daily and weekly charts are all still bullish. In...

  1. 2,213 Posts.
    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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