The daily close above the previous all-time high is yet another bullish indicator. I’m just reading some professional technical analyst’s reports and their next targets are $1340/$1370. Unfortunately they don’t say when and if that’s going to be the top!
9 Responses to “Gold continues the rage”
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AUTOREFRESH 
Guess you never know when altitude sickness may strike.
Evenin’ sage
Mornin’ Lilac. I’m all out of ‘bright’ ideas at the momo. You seeing these moves clearly?
Gold is wild thing… It can ride you to the clouds but another moment kick you to hell… But Soros is sitting on the gold, so it must climb for some time, till the moment when he will start to take profit
)))
Not got the foggiest, Sean – all I can do for the momo is trade a few pairs on a short term basis. In fact it won’t be long before we get to the doldrums anyway, so I’m trying to shake off any thoughts of longer term trades.
Adopt adapt and improve
Cheers Lilac, wise words indeed
As clear as mud at the momo
USDJPY weekly chart:- http://www.pict.com/view/3497294/0/usdjpyweeklydiv
I feel that this pair offers good technical grounds for holding over the LT.
Connecting the trendline on the weekly from the Nov ’05 low to Nov ’08, the recent break has come in just under 1.27 for the Eur/Usd. A weekly close underneath should be headed for a test of the Nov ’08 low of 1.2330
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