Kevin_Lomax
Long

Gold Making a Possible Bottom

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
70 0 4
I am seeing a similar pattern on silver             as well. This is a Cup and Handle bottom, that was published by Market Wizard William O'Neil. It's a pattern I use because the price action makes good sense to me, even in markets other than stocks.
I will be looking for price to clear the previous high before entry, and then I will be watching 1300 before buying more.
Comment: Due to Gold prices trading below this years high, I have not traded Gold yet. However, check out my idea for ticker symbol $NEM to see how we have profited from Gold over the past couple months.
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