| Gold - Bullish Breakout Posted: 03 Mar 2010 07:52 AM PST  Price action on spot gold, a daily chart of which is shown, has made a significant bullish move in breaking out above the key 1130 price region, establishing a new 6-week high. This occurs within the context of a long-term uptrend. Despite a false breakdown of the longstanding uptrend support line in early February, gold has gone on to respect the trendline in late February, leading to the current bullishness. For more technical analysis on gold, please click here for Wednesday’s (2/03/2010) Chart of the Day.
- James Chen, CTA, CMT * For information on my DVD set, High-Probability Trend Following in the Forex Market, please click here.
* For information on my book, Essentials of Foreign Exchange Trading (Wiley), please click here. 
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