Post by
megacopper on Nov 24, 2006 10:23am
Gold Breaking out today - up $10
Gold breaking out....
Snapshot: AQA ARU BGO CMM FMM KRY OSK PLE PTU RR
Gold has worked past a critical area of resistance in the $635 -637 area.... Chances that it it finally breaks out of the 627 - 642 price window are extremely good...
It not today, then next week for sure....
If technicals and gold keep it up....
Will there be a tax loss season on Gold stocks?
Will be a dominant question on investors minds' entering into December.
Considering an earlier failed breakout, Gold action looks much stronger today and don't be surprised to see Gold close over $640 for the weekend. Sentiment for the next move may be derived from today's and next weeks trading patterns. Gold stocks have resisted Gold's upward movements in the last few months showing a bit of divergence and confusion of where the price is heading. A resumption of a LT trend was confirmed for me after Gold moved through $610 level with that support never really coming into question since.
Will the same patterns hold? Or does the market finally believe the time is right for the beginning of the 2007 GOLD RUSH.
Stay tuned....