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Gold is Vulnerable

60 Minute Bars

Prepared by Jamie Saettele

I wrote Friday that "the short term count makes the case for one more high before a more important top registers. Gold has pulled back from a record high but focus remains the next big round figure at 1500. Keep an eye on weekly resistance lines as well (there are 2 lines - one extended from the December 2009 and December 2010 highs and one extended from the May 2010 and December 2010 highs)." The new high has registered, therefore the probability of a drop to 1410.60 and then 1392.20 has increased.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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