Disclaimer

Investing involves some degree of risk. Investors should inform themselves of the risks involved before engaging in any investment. I accept no responsiblity for your failures as an investor. Disclosure - Long physical Gold, Silver, and mining companies.

Saturday, June 20, 2009

Gold and the Week ahead.................

Gold is currently in a trapped trading range between 930 to 950 and is looking to break out
either up or down. The RSI and MACD are indicating a break to the upside, but they are
lagging indicators. The 50 day moving average is hovering around 924 and provides modest
support at that level with further support at 918. The 200 day moving average is sitting at
870 with further support at 865. Upside resistance is sitting firmly at 960. Once 960 is
broken, it's off to the races to test 1,000 once again.

Posted by CC at 7:11 AM

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)