Gold’s Upside Breakout

09/02/2009 11:57 am EST

Focus: COMMODITIES

Thomas Aspray

, Professional Trader & Analyst

chart
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Gold futures traded higher before stocks opened and GLD is up sharply on good volume. If it closes at current levels (95.50), it would complete the triangle on the daily chart, giving upside targets at $108-$110. Fibonacci targets as noted in an earlier report are even higher. Short-term support now at $94-$95.

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