Image by Getty Images via Daylife
Gold futures broke through the $1,000 level for the first time in nearly one year - with the Dow Jones Industrial Average closing at its weakest level since October 2002, investors continue to shift their investment dollars to gold.
April gold posted an inside day with a lower close on Monday as it consolidated some of last week's rally, which spiked above last July's high crossing at 1005.30. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If April extends this year's rally, psychological resistance crossing at 1015.00 is the next upside target. Closes below the 20-day moving average crossing at 931.50 would confirm that a short-term top has been posted.
Read the full article here.....
![Reblog this post [with Zemanta]](http://img.zemanta.com/reblog_a.png?x-id=f60ec579-1551-4e81-beeb-3f36a7e91dd5)
No comments:
Post a Comment