Sunday, March 13, 2011

Gold next Week

Gold will test support at $1407 Monday, but will end NY trading around $1412.  It will move slightly higher in Asia, and will close NY at $1423 on Tuesday.  Wednesday will see gold to resistance at $1440, and it will likely break through Thursday in Asia.  Friday will likely have gold in a new range, above the current $1407 to $1440 one.

The next range could be dramatically wider than the current.  It could be from $1440 to $1650, but realistically, it will test support somewhere along the way.  The range will likely be $1440 to $1510, with a pause to test support a few times at $1510, before the push to $1650 starts.  Once it gets started, $1650 will only be a few short weeks away.  We may not get there by the solstice, but  maybe by fool's day.

No comments:

Post a Comment