Gold Testing Resistance

01/26/2009 9:51 am EST

Focus: COMMODITIES

Thomas Aspray

, Professional Trader & Analyst

chart

Gold had an impressive performance on Friday, closing above its prior highs and the initial downtrend. There is additional resistance in the $940 area, and then again near $980. Volume picked up on Friday, which is also a plus. Major chart support now lies at $800.

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