GOEX - Gold-Bull Breakout Potential
Gold has faded from interest in the past couple months, overshadowed by the monster stock-market rally. But gold has been consolidating high, quietly basing before its next challenge to major $1,350 bull-market resistance. A decisive breakout above will really catch investors' attention, greatly improving sentiment and driving major capital inflows. With gold-futures speculators not very long yet, plenty of buying power exists.
Last August gold was pummeled to a 19.3-month low near $1,174 by extreme all-time-record short selling in gold futures. The speculators trading these derivatives command a wildly disproportional influence on short-term gold price