Sunday, October 03, 2010 10:53:40 PM
Gold Futures (GC)
Gold hit my 1322 target on Friday. I caught a nice ride on the immediate drop after that upper trend line of the wedge was hit. Now we get to see if there's a retracement down to the 10ma, 20ema, the lower trend line, or is it going to have a more significant pullback? I believe it might, but I'm not prepared to bet a lot on that one yet.
I'm keeping an eye on it and will post as anything significant occurs. Obviously the trend has been to pullback and bounce off those two MA's or the trend line.
Gold hit my 1322 target on Friday. I caught a nice ride on the immediate drop after that upper trend line of the wedge was hit. Now we get to see if there's a retracement down to the 10ma, 20ema, the lower trend line, or is it going to have a more significant pullback? I believe it might, but I'm not prepared to bet a lot on that one yet.
I'm keeping an eye on it and will post as anything significant occurs. Obviously the trend has been to pullback and bounce off those two MA's or the trend line.
(Formerly known as "Richagain") My posts are my opinion and are subject to change without notice. I accept no responsibility for anyone who chooses to take any action based upon anything I post.
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