Gold–Higher Monthly Close

02/27/2009 3:02 pm EST

Focus: COMMODITIES

Thomas Aspray

, Professional Trader & Analyst

chart

Though gold is being recommended by many advisors, other analysts are skeptical. It looks as though gold will close higher for the month, however, and if so, the monthly On-Balance Volume (OBV) will close at significant new highs, which is a bullish sign. The OBV completed a major base in 2002, signaling the beginning of a new uptrend.

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