SPDR Gold Trust (GLD): I don't know what charts traders look at...

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SPDR Gold Trust (GLD)

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Re: None

Sunday, 06/12/2011 9:04:58 PM

Sunday, June 12, 2011 9:04:58 PM

I don't know what charts traders look at that everybody is berish on Gold, but my charts show that DXY is Overbought on 60 min charts and Gold Oversold + this week US data looks week very week, what do you think it's gonna happen DXY will fall to 50 SMA 74.09 and Gold might easy see 1550.00 that would make GLD $151.00.

Gold Pivot 1533.00 fot tonight first resistance 1540.00
For this month the Pivot is 1525.00 Longest Gold is trading 1525.00 you will not see any major dip. For GLD that is $148.60 almost tested on Friday 148.69 , but it did hold.

I'm still bullish for this week on gold.

Heappy trading to all

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