Gold and SPX trade update.

December 16th, 2009 by tradertony Leave a reply »

gold2 12.16gold 12.16GOLD is still trading near its 50% Fibonacci retracement level in a realyl quiet manner. I am still expecting to see a bounce to at least 1170, so if you haven’t read my previous post, then you can jump into the trade right now.

As for SPX futures, it has formed a nice bull flag, and has just broken above the upper trend line trading at 1114 at the moment. I am looking to grab some longs at a pullback to 1111-1112 level.

The throat sighs!

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