Feb 15 2009
GOLD on the steroids…
I totally forgot to post about gold and was reminded by one pm i got today asking me about gold .
So todays post we will review Gold chart.
Gold had been always the one place where most traders find solace in times of economic turmoil …
I will post a chart for you to view it now and then will write on what we see on chart
here is chart for you
So we see a trendline that has been holding gold for a while which was broken to the upside last month.
We clearly see that we have got a bullish engulfing pattern on the weekly chart
So we now know that Gold is good buy ..
Now deciding targets
We can see a PPZ region at 975 to 979 range which holds our first target and if that one is taken out we have 1000 to 1020 as the next target …
With so much to see we are definaitely for a good trade on gold.
So enjoy your ride on the gold!








































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