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December Gold: Two Benchmarks To Look Out For

By Rick AckermanCommoditiesNov 26, 2012 04:07AM ET
December Gold: Two Benchmarks To Look Out For
By Rick Ackerman   |  Nov 26, 2012 04:07AM ET
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Two benchmarks not far above are likely to test buyers’ enthusiasm. The first, at 1763.00, is not in doubt as a minimum upside objective because of the ease with which bulls shredded its 1733.30 midpoint sibling. The futures will have to punch through the higher number, however, and decisively so, to be deemed fit for a further push to 1771.40.

Camouflageurs should call up a more extended version of the chart to acquaint themselves with the look-to-the-left peak at 1758.40 created on October 12, since a small pullback from just above it could create an absolutely perfect spot to get long if you haven’t yet done so by then.

A Subtlety Could Yield A Superb Opportunity To Buy December Gold

Gold Resources Corp (GORO) gets talked about in the chat room all the time, but fans of the stock will not find a better opportunity to get long than the one shown in the chart accompanying today’s update. The opportunity is past, but I mention it because another with similar potential is developing in December Gold. Specifically, there’s a look-to-the-left peak that is almost identical in subtlety and trading value to the one I’ve identified in GORO.
December Gold: Two Benchmarks To Look Out For

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December Gold: Two Benchmarks To Look Out For

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