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Cliff Wachtel
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Cliff Wachtel, CPA, is currently the Chief Analyst of, a leading binary options broker, and Director of Market Research, New Media and Training for, a fast growing forex and CFD broker. He is also the author of The Sensible Guide To Forex, and publisher of... More
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  • Gold Alert: Great Entry Point to Short Gold 0 comments
    Dec 23, 2009 12:43 PM

    ALERT looks like good time to get into gold, weak dollar, still can’t break out of channel see chart below

    Despite a USD in retreat across the FX spectrum after disappointing housing data and oil shooting up, gold still can’t break out of its steep down channel, with the 61.8% Fib retracement providing additional resistance along with the upper line of the channel.



    Disclosure: GLOBAL STOCKS, CURRENCIES, FOREX, OIL, GOLD, DOLLAR, YEN, POUND, EURO, EUR/USD GPB/USD, USD/JPY, AUD/USD, NZD/USD, GBP/USD, USD/CAD, EUR/GBP, USD/CHF, FOMC Rate Statement, Euro-zone debt crisis, Greece Debt Crisis, Dubai Debt Crisis
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