Gold Rolls Over - Market Analysis for Feb 12th, 2008

Gold Rolls Over
By Mike Paulenoff,

The streetTRACKS Gold Shares (NYSE: GLD) has rolled over in a serious way today after climbing for the past week towards a retest of the January high at 92.58. The fact that the rally stalled at 91.46 yesterday and has reversed to the downside with such power today suggests to me that it represents a secondary high within a larger developing intermediate-term top pattern that will have the power to press prices to the 85.00 area prior to completion.

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!