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  • Gold Target for Week of April 19th

    Posted on April 18th, 2010 Chris P. 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!

     

  • Gold Target for Week of February 22nd

    Posted on February 22nd, 2010 Chris P. No comments

    Buy: $1115 | Stop: $1106 | Target: $1149 | Quick Target: $1135

    Hey guys, I don’t see gold breaking past the $1150 barrier this week although I see it in the future cards. Look for the quick move up to $1135 and start your buying around $1115. For all the gold bugs out there, we should be at $1500 right now but you can thank the Euro zone for ruining that party. Until Greece figures out their debt problems, gold will not be off to the races. Happy trading!

  • Gold Target for Week of November 23rd

    Posted on November 23rd, 2009 Chris P. 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.