3Sep/093
Gold has reached 1st target
9/3/09 - 9:56 am MST - Wednesday morning, I posted a chart of Dec. Gold showing the projected reversal date and said Gold was ready to break out to the upside with an initial target objective of $993.60. Gold was trading at $967.30 at the time. It is one day later and Dec. Gold has reached a high of $994.60...$27.30 higher. That is what I call a breakout! Gold could continue to trade up to the upward sloping reaction line, but I would expect to see some consolidation at this level.
December Gold
RT Swing Trader Software
September 8th, 2009 - 13:56
Looks like Gold ran into a lot of supply today. I smell a false breakout.
September 9th, 2009 - 10:02
It will be interesting to see the price action around the 9/14 reversal date.
September 9th, 2009 - 13:31
I went short.