head winds - thursday, page-24

yep, it's gunna get real interesting now.

and yes, Gold is right up against the 'real' potential resistance now, and it will probably last for quite a while.

However, it is 'only' resistance (and only 'Potentially' there), it's not a Brick Wall (more like a thick hedge, if you get what I mean), if Demand is Strong Enough it can always push through.

The 'potential supply' it is up against here, will most likely come from a mixture of old longs who have been trapped underwater for sometime, getting out at B/E (if they haven'y already gotten out & taken a loss), shorts taking new positions (this is an obvious place to take a new short, if you think Gold is still weak), and longs taking profit's off of the recent lows.

So that Supply is what the Demand has to overcome (absorb), to continue higher at this point in time, well potentially anyway.

Personally, I wouldn't take any new long's until it actually breaks out & test's now, or on another pull back to support, there are too many 'if's and buts' right here for me, but that's just my style (conservative), others will have their own opinion's I'm sure.

cheers