View: 2015-01-09-Gold.png

2015-01-09-Gold.png

Well looky here.  
Nice finish by /GC to finish with it's head peeking above that downtrend line. Will we finally get some follow-through higher early next week.  
Step one complete for metals bulls. Nice weekly close. 
Next step to is get some follow-through and take out the short-term high of 1239.  
It may finally be time for game on as long as we don't get a fake out - which we have to be on guard for...  
Let's see what we get - stay flexible.

Comments

moneymiser21moneymiser21
I saw that strength on /gc late Friday, and decided against selling GLD call spreads to see how it shook out. 
 
If gold futures can take out the 1239 high from December, a re-test of the 1254 high seems very likely. 
 
/dx strength this year so far is not stopping gold. 
 
This week will be a key test, as we've all seen too many breakouts at key trendlines fail. 1/12/15
...