Friday, March 11, 2011

GLD Setting Up For Another Leg Higher

The GLD has formed a very nice cup with a high handle.  Volume has declined in the handle which is a nice attribute.  A breakout above the high of the handle targets 147.02 at a minimum.  A breakout would also bode well for a continuation in the uptrend for oil.

No more posts until Monday.  I'll be on a 30 mile canoe/kayak trip with my two youngest boys this weekend.  I hope you will be enjoying the nice weather that we are expecting.


Novelty Pens said...

It will be interesting to see just where oil levels at and if it holds. Have fun on the trip!

Anonymous said...

So far it looks like oil is going to hold at or above $100 with probes down to $97.

Had a great time on the trip. We canoed and kayaked 30 miles down the Black river in North Carolina and through the Three Sisters Swamp. Beautiful weather with temps hitting 80F.