Okay, one more. A new chart of GLD.I have been expecting some protracted handle making - perhaps into summer end off of the very bullish formation. But now we are complicated with a mini ascending triangle beating on all time highs resistance for the 3rd time.
The next target for gold is 1300, and it could easily get there very shortly if this resistance breaks. Then maybe some consolidation/correction before the real rise begins later in the year. Well, it's one scenario and it could play out right in the face of the gold hater deflationists. The smart deflationists will be on the right side of things however. Just ask Mr. Hoye and Mr. Ackerman.
Okay, that's enough blogging for today. I feel a sort of know-it-all tone creeping in that is surely a precursor to my portoflios getting whacked. :-)
