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Friday, April 29, 2011
The Cooperative Metal
Gold has now sustained its price above the psychological barrier of $1500/ounce. At this present moment, it's selling for $1544/ounce. Unbelievable to some. Right on track for others. The best part about gold to date is that it's cooperated so well from a technical chart perspective. It builds nice long bases and conforms to pattern prediction such as the "reverse head and shoulders". Of course, this cooperation can change tomorrow. There is concern as Robert Prechter warns that "everything is up". Commodities and equities were moving in similar tandem leading up to the 2008 crash.
My recent picks were quite good it I don't say so myself.