Is Gold’s Rally Stalling?

06/30/2010 2:17 pm EST


Thomas Aspray

, Professional Trader & Analyst

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The gold futures have been bumping into our upside target in the $1252 area for several weeks, but have not been able to move through. Though the monthly analysis indicates the major trend is up, the weekly and daily analysis suggest a more cautious approach. The weekly OBV is positive, and though it has not yet confirmed the new highs, it still could in the next couple of weeks. A weekly downside reversal would increase the odds of a correction. For an in-depth analysis, read this week's Trading Lesson, due out this Thursday.

Tom Aspray, professional trader and analyst, serves as video content editor for The views expressed here are his own.