Wednesday, August 5, 2009

Gold Chart Convergance

After todays performance it seems as though the convergance trend I posted yesterday has a higher level of validity. If the chart continues along the trend we should see a bottow around the 935-940 level and from there we could see a breakout to the upside.
There is a chance obviously that the breakout could be to the downside but I think its unlikely. The converging boundary lines are leading higher and thats usually a good sign that the breakout will be a positive one.