Sunday, January 14, 2007

A Gold Bottom Might Be In Place



As noted in a previous post, the area between 600 and 610 provided good support for gold, despite breaking the lower uptrend channel support, which survived the first test. The strong bounce off the mentioned support area and a possible bottom around -80.000 noted in the COT numbers (see below) should see gold go for a new bullish leg towards 655.

1 comment:

Anonymous said...

You write very well.