Receive Our Free Email Newsletters:

Email

Links

Tue November 21st 2006
Gold Emerging to the Upside
by Mike Paulenoff, www.MPTrader.comIt looks like the equity markets continue to consolidate within a high-level congestion area-- perhaps ahead of another thrust to the upside in sympathy with the growing positive seasonal starting tomorrow AM.

Looking at gold, the GLD appears to be emerging from its two-week sideways congestion area and exhibits the requisite underlying momentum juxtaposition to support upside acceleration to retest the prior high at 63.13...on the way to 64.50. Only a decline that breaks below 61-60.80 support will compromise the constructive near-term pattern.

For more of Mike Paulenoff, sign up for a Free 15-Day Trial to his ETF Trading Diary.

Reader Response:

Comment on this Article

Post Your Own Chart/Analysis

Tell a Friend About Us