August gold futures back below the trendline resistance and so far, the breakout failed. A close above 430.50 would signal a reversal of the downward trend and higher prices. Another failure at 430 will put an end to this rally. Support is 427.80, 426.50 and 424.50. CPI numbers out tomorrow and will be market moving for all, including gold. Watch yields and the dollar.
This entry was posted
on Tuesday, June 14, 2005 at 4:13 PM.
