Apr 9, 2010

FX Path

FX Path

Gold - Steep Bullishness Continues

Posted: 09 Apr 2010 08:17 AM PDT

Price action on spot gold, a daily chart of which is shown, continues to rise steeply in line with the recent bullish rally that began in late March. This rally occurs within the context of a long-term uptrend. After having broken out above the key 1130 and 1145 resistance levels this week, price is currently approaching further upside resistance in the 1160 price region. For more technical analysis on spot gold, please click here for Friday’s (4/09/2010) 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.
posted by

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)