DISCOVERY BOARD ~ PRECIOUS METALS ENERGY URANIUM OIL Message Board

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Gold/Mining/Energy : DISCOVERY BOARD ~ PRECIOUS METALS ENERGY URANIUM OIL

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From: PaperPerson	4/9/2012 8:29:28 AM
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Maybe i am missing the big move, but i am thinking it is time to do spring housecleaning, go to maybe 50 percent or 60 percent cash, and wait until mid to late August and then go in full bore with long term Gold and silver stock calls and warrants. Gold looks vulnerable to under 1600 here. Gold Technicals according to Jim Wycoff at Kitco, Monday a.m.: Technically, chart damage was inflicted in gold last week. A five-week-old downtrend is in place on the daily bar chart. The bulls’ next near-term upside price breakout objective is to produce a close in June gold above solid technical resistance at last week’s high of $1,685.40. Bears' next near-term downside price objective is closing prices below psychological support at $1,600.00. First resistance is seen at the overnight high of $1,648.20 and then at $1,650.00. First support is seen at the overnight low of $1,636.70 and then at $1,629.80.

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