Near-Term Peak in Gold

Mar 04

by Mike Paulenoff, Tue March 4th, 2008

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Near-Term Peak in Gold
By Mike Paulenoff, www.MPTrader.com

In our 10 am posting to subscribers yesterday we discussed the powerful up-gap opening in the streetTRACKS Gold Shares (NYSE: GLD) and the fact that the GLD had hurdled the resistance line of its multi-month bullish price channel. We wrote: "This is very interesting action in the GLD -- to see if the up-gap up here can be preserved

Mike Paulenoff is author of www.MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial!

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Spot gold continues to respect the integrity of its up-slanted channel off of the Dec 29 corrective low at $1522.48. More…

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