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TFC Commodity Trading Forum

Gold/ $100 Rallies/Next Stop $1670's/Lee *PIC*

Here is the Gold chart again. Notice Gold loves to find a channel and trade in it for some time. And most of those channels are about $100. The breakout over 1577 'suggests' the next channel top of around $1677. The R-1 Pivot pt resistance is just a little above that. If price can blow through that the next and only resistance point above is the R-2 Pivot of $1740. Most rallies finish off with a big spike up so that wouldn't surprise me either. Not that I would chase it here as the horse is out of the barn and already a long ways from home. (the 50ema at $1563)