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City Trades: Keep going for gold

Created:
18 November 2009
Written by:
Graham Neary

The outlook for gold remains very positive, says Graham Neary at www.futurestechs.co.uk.

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The stochastic oscillator - a measure of upside or downside pressure - is moving sideways in the extreme "overbought" region. This is an exceptionally bullish market. Doubts would only creep in upon a dip below $1127.80. Even then, our preference would be for more gains until $1103 were breached. Our upside targets are $1190 and $1250.

IC Trades are written by Investors Chronicle writers. City Trades are written by selected external contributors. Both are based on the interpretation of patterns on a share price chart, rather than on fundamental analysis of the company's business or prospects.

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