Gold: middle of nowhere $GLD $GC_F

2011-10-02_2126

After last week´s impressive seloff, gold has been consolidating in a lower value area, within a $100+ area between $1680-$1550.

Levels I´ll be watching are $1680. If the barbaric relic breaches those levels, there´s a very “thin” area above, which might suggest furtrher upside to the $1740 mark.

Strong support in the $1550´s area –  I would not expect it to brake easily.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s