Gold Bulls Still Have a Technical Edge
Last Friday, Comex April gold futures prices scored a fresh two-month high of $1,765.90 an ounce but have since backed down on some profit-taking pressure and a corrective technical pullback. However, no significant chart damage has occurred, and the gold market bulls still have the solid overall near-term and longer-term technical advantage.
Indeed, the gold bulls started off the year with a strong rally during the month of January. Gold prices have appreciated by around $200 an ounce from the December 29 low of $1,526.20, basis the April Comex futures contract....308 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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