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« Ann Lee
Chart of the Day: Gold
This precious metal recently broke out from six-month consolidation. Look for a continued move upward. The below chart is a weekly chart, not a daily… and there’s an interesting development that just occurred. After six months of consolidation, gold recently broke descending resistance to the upside. What’s more, most indicators, including MACD and stochastics are bullish at this point. At the end of the day, gold bugs are at it again, and it’s probably a good idea to look for a continued move higher. The next stop on the upside is 676.41, which serves as horizontal resistance. However, if bulls can push above this point, you can rest assured new highs more than likely in the cards for 2007.
Exit is everything. 2/21/07
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