Monday, August 15, 2011

Gold outlook

1, The channel breakout may now work as a support for the falling daily prices. You could buy there with a 3% stop.
2, If the channel fails, then the channel's lower trendline at 1550 will offer support.

If you can see RSI and MACD, they are over extended by so much that the momentum is not sustainable by any means. Use puts on GLD to open short positions.

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