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  • Gold Target for Week of April 19th

    Posted on April 18th, 2010 No comments

    Sell: $1145 | Stop: $1151 | Target: $1128 | Quick Target: $1137

    It’s always extremely difficult to fight a trend, and in this case selling gold is doing exactly that. Like I’ve said in previous posts, we are entering the largest bull in history but on the way we are going to see pullbacks and corrections. Instead of shorting gold at this point, I’ve only liquidated my positions and taken a short on the QQQQ and SPY.  Since we are in a bull market, my short targets are very tight, but if I were to loosen them up, I can definitely see gold getting back to the 1075-1080 range before it decides to climb back up.

    Enjoy trading everyone!

     


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