Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

If the Gold Price Closes Above US$940oz the Bottom for this Correction is Behind Us

Gold Price Close Today : 939.10
Change: 5.00 or 0.5%
 
The daily charts for Gold prices look too strong for a continuing correction. After making a double bottom at US$918 last Monday, the Gold price tried Wednesday and Thursday to Bull Charge its way through US$940 and got turned back.
 
Should it close above US$940 then the bottom for this correction is behind us. If not, bottom probably still in, but the Gold price must test back to last bottom to confirm it.
 
 
 
The US Dollar index dropped another 18.3 B pts Thursday to stop at 80.354. If the dollar index closes below 79.60, it will fall another  200 B pts or farther. Auguring for Gold run through the resistance.