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  • Gold Target for Week of June 29

    Posted on June 28th, 2009 2 comments

    Signal: Neutral Buy

    Buy: $936 | Stop: $931 | Target: $947

    Gold seems to be in a short term up trend right now and the dollar seems to be stretched out. I don’t think we are going to see $930 this week, if we do, my analysis is way off. My weekly target is $947, but if we can break that $950 mark I’m going to make a strong buy signal and reset my target to $985. Happy trading everyone!

  • Gold Breaks into Uptrend

    Posted on June 18th, 2009 2 comments

    During the night gold reached $944. Taking that into account, it’s safe to say gold is back into an uptrend and all short positions should be taken off the table. We had a chance to take profit at $925 early in the week, hopefully we stuck to the plan and made some money. I look forward to reviewing the week on Friday. Take care everyone.

  • Gold Target for Week of June 15

    Posted on June 15th, 2009 4 comments

    Signal: Neutral Sell

    Sell: $935 | Stop: $941 | Target: $920

    Earlier in the week I can easily see a break down to around $919, at this point we should hit heavy support and bounce back into our uptrend. If $920 doesn’t hold we can see gold eventually hit $865. I’m more optimistic on seeing a nice bounce once gold hits $919-$920. If I’m trading this, I’d be short around $935 with a stop at $940. I’d take my gain around $920-$925 depending on my risk tolerance. After that, I would definitely get out of all my short positions.