Monday, November 21, 2011

Gold Trend Still In-Tact

Today, gold was down more than $40 causing some to question again whether August was a peak.  So far, there hasn't been anything about gold's chart that is out of the ordinary though.  Back in August, I posted that following a big spike in the price of the metal, gold tends to have a several month period of consolidation.  Since that time, the price of gold hasn't gone much of anywhere, true to form.  If gold continues to trade like it has in the past, now would be a good time for it to begin breaking out again.

There's nothing like gold to make technicians out of all of us.

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