Saturday, May 30, 2009

Gold May analysis - recent run up !

After my last Gold technical analysis in April gold has a run up.

Market club's monthly and weekly signals had given a buy since the 90 and 89 levels respectively. This may be mainly due to inflation concerns. 99 might be one big resistance that GLD needs to pass through.

RSI has reached around the overbought area but MACD is showing good promise. Going by last times runup ultimate top was formed when both MACD and RSI were at top.

Buy in next dip might be the right thing to do here?


jj-momscashblog said...

Hey Tapan, I've been interested in the concept of buying gold until I saw how much it was going for. But I do know it's a really good investment. And after reading this post of yours it makes me want to go and look up the price right this minute and maybe think about buying. Sorry I haven't been around in awhile, but I'm back and will visit you more. jj

jj-momscashblog said...

Hey Tapan, I just saw a report about gold last night and thought about you and your blog. Man I wish I had put some of my money that I had back then into GOLD< it has gone way up. I think it's probably as high as it will go, but too bad I didn't do it then. Hope all is well with you and I think you said a new family member a baby(?) yes? Enjoy. JJ