July 29th, 2010
Published Daily

GCQ09-August Gold (Last: 937.10)

by Rick Ackerman on July 17, 2009 12:39 am GMT

The futures bounced from a low yesterday of 934.50, the precise  midpoint of a corrective pattern projecting to 930.80.  The latter number is a buy, even if there was no evidence the futures are about to give up that much ground before resuming the uptrend.  Camouflage will be tough to find if you want to board with-the-trend, but I’d suggest using a 939.30 print as a breakout indicator.

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