This stock market rally looks like a clip from the Walking Dead at this point.
No point chasing Walkers, right? Ok, but Gold on the other hand is another story...
In the first chart you can see that Gold went up as predicted this week, and looks like a test of $1620 plus is next.
The second chart shows you the outlook on the weekly chart so you can see the big picture.
While most talk about the 'down trend' in Gold, the long term trend is still up, which makes these areas a buying opportunity potentially.
Don't try to catch falling daggers, is the market saying to keep in mind. Wait for a support area to hold and then see how the market reacts.
In this case, I'm just looking for a test of the nearest resistance level and we'll see what the Gold bulls can do.
Until next time...
Good Investing!
David K. Miller
Managing Editor, Absolute Wealth
