Wednesday, December 9, 2009

My next gold price watch

One of the very critical points to watch is 1,000. This is the line in the sand -- 1,000 was a strong resistance but now could be a strong support. There is no need to do the guess work, just watch, if it breaks down, then wait a little longer before start buying -- it will take a least 3 months to shake off the weak hands. One of the important things that I learned -- bullish does not mean you have to buy outright.

1 comment:

equilec said...

Yeah... that is what I am looking at too... it will be another month or so or maybe after CNY to look to build if this is actually a correction rather than a U turn...

But fundamentally, people are saying that the price will move upwards.

Like you, trust the charts as they say huh?