Gold Daily and Weekly Charts

Gold went out on at the $1210 level. If it can extend its gains next week and top the resistance around 1225 it is likely to be heading up again for the fourth test of resistance around 1260.

People have been sending me charts from other fellows, chartists, some who charge subscriptions and make appearances on television, 'just to temper my enthusiasm for gold.'

I try to listen to everyone who has something to offer, to the extent that time permits and experience motivates, But since most analysts and chief strategists are 'talking their books' and biases, their accuracy probably doesn't matter much to them, and this is why what they say so often matters so little to me.



The Gold weekly charts looks like there is a decent probability that a short term bottom is in. Let's see if gold can start its new leg up next week, and take out 1225 which sets up a retest of the big overhead resistance around 1260.