Has Gold Topped Out? ~ market folly

Wednesday, October 28, 2009

Has Gold Topped Out?

The guys over at MarketClub don't think so. They take a look at the gold chart and highlight why the recent dip is just a normal course of action for the longer-term uptrend. Here's their video on gold where they highlight support levels to buy at and identify price targets going forward. They note that gold clearing the psychological and technical resistance area of $1000 was a big deal (duh). However, even more important could be the fact that it has been able to remain above that threshold for over a month.

Lots of focus on gold over the past few months with hedge fund managers like David Einhorn singing its praises so we thought it prudent to examine how gold has been shaping up, so make sure to check out the most recent technical analysis video on gold.

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