My pattern work is "warning" me that the SPDR Gold Shares (NYSE: GLD) has unfinished business on the upside -- into new high ground above 90.19 (target 92.00). This morning's pullback low at 86.27 has the right look of the completion of a correction off of the high, and this morning's upside pivot so far suggests strongly that a new upleg has started. The GLD must hurdle and sustain above 88.90 to confirm that a run at 92.00 is in progress.
The Mid-Day Minute
Gold Unfinished on the Upside
Fri, Jan 30 2009, 05:29 GMT
by
Mike Paulenoff
- MPTrader.com
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