Gold Under Pressure - Market Analysis for Nov 19th, 2007

Gold Under Pressure
By Mike Paulenoff, www.MPTrader.com

Gold prices and the GLD are under pressure again today. Let's notice that the GLD has violated Thursday's reaction low at 77.30, which triggered new selling pressure that points next to 76.00 -- on the way to my optimal target zone of 74.00. At this juncture, only a rally that hurdles and sustains above 79.00 will neutralize my still-bearish outlook.


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