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11/3/2009 1:24:00 PM
Gold Uptrend Resumes

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A week ago, after GLD had declined quite sharply from its highs and the bearish sentiment had picked up, I discussed the positive action in the OBV, which suggested this was just a "pullback in the uptrend." Daily, weekly, and monthly volume analysis is positive. Upside target from the last rally at $108.50, then $114.
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Tom Aspray, professional trader and analyst, serves as video content editor for MoneyShow.com Video Network. He was originally trained as a biochemist but began using his computer expertise to analyze the financial markets in the early 1980s. Mr. Aspray has written widely on technical analysis and has given over 60 presentations around the world. Many of the technical indicators that Mr. Aspray wrote about in the 1980s, such as the MACD, have since gained worldwide acceptance.

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