Market Analysis for Nov 28th, 2005
Spot gold prices popped to $499.50 earlier this AM-- a new high for the current upmove, and a test of the $499.75 high established in Dec. 1987!... A close at or above $500 this Wednesday-- the final day of the month-- will trigger longer term bullish signals that project next to $560...
Meanwhile, our proxy for spot gold on the equity side, NEM (47.62) remains in relatively healthy technical condition, and projects still-higher to the 48.80 area next, as the price structure presses closer to a challenge of its 2 year resistance plateau at 49.50-50.30...
For more of Mike Paulenoff, sign up for a FREE 15-Day Trial to his E-Mini/Index Futures diary. Or try his QQQ Trading Diary, or his Macro Trading Charts.