Intraday Market Thoughts

Archived IMT (2010.06.11)

by Ashraf Laidi
Jun 11, 2010 20:02

GOLD IS UP AGAINST all currencies after 3 consecutive daily losses, but the question is whether gold is undergoing a downleg similar to that in mid May. Notice how gold hit an NEW RECORD on Monday at $1,251 but fail to follow up into the rest of the week. CAUTION as to whether $1,250 presents a double top (May 14 & June 8). But gold bulls can be comforted by the monthly chart, which shows no signs of retreat under $1,180


Latest IMTs