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  • Gold Target for Week of December 14th

    Posted on December 14th, 2009 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!

  • Gold Target for Week of November 23rd

    Posted on November 23rd, 2009 No comments

    Sell: $1160 to $1180 | High Target: $1175-80

    Gold is moving up and the charts keep getting stronger on the daily, but only on the daily. Right now we are open game for $1180.40 on the daily but I’ve taken notice that our weekly and monthly charts are extremely over stretched. At this point I would take profits in gold and stay on the sidelines. I’m anticipating a large drop before the end of November. Hopefully we will find a good buy opportunity sometime in December, but at this point I’m making the call to take profits. Enjoy trading everyone.

  • Gold Target for Week of November 16th

    Posted on November 15th, 2009 No comments

    Buy: $1115 | Stop: $1100 | Target: $1136 | Quick Target: $1125

    Wow, what a rally we are seeing. We are making new record highs every week and I’m guessing all my readers are cashing in non stop. I feel that we might peak out at 1135 during this week and go sideways for a week or two. I still think there is a play for the upside during this week but I’d definitely play with caution. Once we hit our upside target, take your profits and sit back till we see a good buy opportunity. Happy trading everyone!