stay with the bull., page-2

  1. 2,154 Posts.
    Ascending triangle on the spot gold price with 372 resistance and rising pivots, looks juicy. It is very well supported, I was very close to buying 10 contracts for the June expiry at 370 last night, but will on Monday, providing the breakout doesn't eventuate or it isn't too severe.
    The way I see it, a close above 372 will send prices to $400 without too many dramas, if I take profits at $400/oz for arguements sake, that will be US$28k profit on AU$35k outlay. If you are bullish on gold, you can't compare the gains between the real thing and equities, if you are bullish on gold that is, need to keep an eye on the exchange rate and as per the aud chart last month it has strong resistance @ 0.595 , the us dollar index is in freefall. Probably the only variables you need to watch to maximise gains. all imo..
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