Gold Views!!!

Not to remind you of inverse relationship between the gold and the dollar, if in the previous post we discussed how important its for the dollar to hold on to those levels, similarly here its very important for GOLD to break past this resi zone and make a new all time HIGH!!!

The chart above is the daily chart of gold; the failed triangle (price came too close to the apex) morphed into a simple trendline break to the upside. Any one who has played the trendline break should place his stoploss strictly near the 960 odd levels because now the failure to sustain 970/65 would lead to a lot of anxiety! On the other hand breaking the $1000 barrier might give an immediate spike to 1030/50!