Gold Gaps UP, Targeting Trend to $850
Commodities / Gold & Silver Dec 22, 2007 - 10:54 AM GMTBy: Mike_Paulenoff
The streetTracks GOLD ETF (NYSE: GLD) gapped up this morning and has pushed up through its Nov-Dec resistance line at 80.00, which if sustained should trigger upside acceleration from the bullish triangle pattern that has developed during the past 7 weeks, and which projects an optimal target zone of 85.00-86.00.
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By Mike Paulenoff
Mike Paulenoff is author of the MPTrader.com (www.mptrader.com) , a real-time diary of Mike Paulenoff's trading ideas and technical chart analysis of Exchange Traded Funds (ETFs) that track equity indices, metals, energy commodities, currencies, Treasuries, and other markets. It is for traders with a 3-30 day time horizon, who use the service for guidance on both specific trades as well as general market direction
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