Gold Volume Confirms Higher Prices

04/14/2010 9:29 am EST

Focus: COMMODITIES

Thomas Aspray

, Professional Trader & Analyst

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Since gold’s high in December 2009, the sentiment has changed drastically, going from euphorically bullish to now being neutral or bearish. The recent rally above the March highs indicates that the continuation pattern has finally been completed. The monthly OBV did confirm the December highs, and the daily OBV moved through resistance in late March and is now close to the prior highs. Once above $1227, the next targets are at $1252 and $1362. Click here for Fibonacci analysis on gold.

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