Gold situation developed a bit from my last chart analysis.

Gold chart is now less bullish. The important trendline is broken and situation is now more neutral. It will be important to watch if resistance area 940 – 960 will hold.  Decline from this area could lead to drop to 840 – 860 USD level.

But break of 960 level will set bullish scenario again.

Gold can be traded by Commodity ETF stocks

This entry was posted on Wednesday, July 15th, 2009 at 5:25 pm and is filed under ETF analysis, Stock chart analysis. 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.