If you look at weekly or monthly chart of gold you can spot that price is now near important resistance level.

A lot of people expect continuation of uptrend into new highs. But one can also see this chart pattern as possible bearish reversal double top pattern.

If you trade commodity ETF for gold , you can trade it long with GLD or short with Short ETF for gold like DZZ or DGZ

This entry was posted on Saturday, March 21st, 2009 at 3:38 pm and is filed under ETF analysis, Stock chart analysis, Stock market comment. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.