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  • Gold Target for Week of December 14th

    Posted on December 14th, 2009 Chris P. No comments

    Position: Neutral

    Some people have expressed some concern with my lack of updates recently. Well to keep it short, everyone fell in love when I told them to sell at $1180, so I can understand :) My position has remained a SELL since November 24th, so I figured there was no need to make any update. Today I’m moving into a neutral position which should turn into a BUY sometime in the second half of this month. Gold is approaching the 50-day MA and I can’t really see gold falling below that. That being said, if gold falls below $1120 I’m a bear and if gold moves past $1145, I’m a bull, whichever comes first.

    Enjoy trading everyone!