Today, 11/12/09, the gold market took its first corrective action on the downside. The question many traders will have now is, have we hit the high end for gold this year?
In my latest video I examine that question in some of the internals that I see and feel are important in this market.
As always our videos are free to watch and there is no need to register. Please feel free to share your comment regarding the gold market on our blog.
Adam Hewison
President, INO.com
Co-creator, MarketClub
After hitting our first upside target of $1,110 two days ago, gold prices backed off but still managed to close at their best levels today for a new record high close in New York basis the spot gold.
The question now is, what's going to happen to gold after it hit our first target level?
The Decoupling of Gold
With today's historic move into new high ground for gold against the dollar, has this market finally decoupled from the other markets?
In this short two minute video, I will share with you what I think the next major technical level is for this market. We will also be looking at an indicator that is close to kicking in that could sharply accelerate gold's upward move. Gold has an enormous energy field below it that is capable of pushing prices significantly higher in the months ahead.
Has the Gold Market Topped Out?
That is the big question on many traders' minds as gold fell from a high around $1,070 to the lows seen earlier today.
In my new video that was shot at noon on Tuesday 10/27, I go into detail on what I think is going to happen to this market. I think you will see a refreshing view of the gold market and also the strategies that we're employing to take advantage of the next big move in gold.
As always our videos are free to watch and there is no registration requirement. We would really like to know your views on this market and if you agree or disagree with this video. Please feel free to post your comments on our blog.
All the best,
Adam Hewison
President, INO.com
Co-creator, MarketClub
Attention all MarketClub Members: A Daily Trade Triangle flashed a buy signal on Spot Gold this evening at $1,065.53.
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