Apr 25, 2011

FX Path

FX Path

Gold - Surge to New Record High, Due for Pullback

Posted: 25 Apr 2011 08:11 AM PDT

Price action on Gold (a daily chart of which is shown) as of Monday (4/25/2011) has continued its bullish stance after having broken out above its 1500 resistance target late last week, establishing yet a new all-time high above 1517 in the process. This follows on the heels of a week of almost daily record-breaking highs. For more technical analysis on gold, please click here for Monday’s (4/25/2011) 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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