I'm sure everyone has seen the tear gold has been on lately. I think there is still plenty more room to run, especially with what I think is coming down the pipe in the equities markets.
We can see a little pullback down to 1180 first, between a possible bounce in the dollar and people taking profits on their gold trades I think we will see a pullback and bounce off of 1180, which has been a pretty solid level of support/resistance as well as a .382 fib retracement of this current move which should only strengthen the level. .764 should also act as a tough level and provide some support, might be a good time to average in if you happen to get long a little early and it slips a little further.
We can see a little pullback down to 1180 first, between a possible bounce in the dollar and people taking profits on their gold trades I think we will see a pullback and bounce off of 1180, which has been a pretty solid level of support/resistance as well as a .382 fib retracement of this current move which should only strengthen the level. .764 should also act as a tough level and provide some support, might be a good time to average in if you happen to get long a little early and it slips a little further.