Gold did not finish its top count and did not reach the target area yet to make a more substantial high. The consolidation is over with the current Dollar leg and we are heading for 1250 minimum target ideal target would be 1300. Yesterdays close was above the descending triangle resistance and confirms that the upside momentum is picking up. Around 1125 we might have a little trouble advancing short term. One can buy any weakness the next days especially towards the gap area at or below 1105.
Wednesday, February 17, 2010
Gold update
Gold did not finish its top count and did not reach the target area yet to make a more substantial high. The consolidation is over with the current Dollar leg and we are heading for 1250 minimum target ideal target would be 1300. Yesterdays close was above the descending triangle resistance and confirms that the upside momentum is picking up. Around 1125 we might have a little trouble advancing short term. One can buy any weakness the next days especially towards the gap area at or below 1105.
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