Greetings!, As reports surfaced pointing to concern over both the European and Chinese economies, markets reacted in spades. The U.S. equities markets, after briefly reaching the elusive 13,000 mark on the Dow Jones Industrial Average, retreated late yesterday and today. The key here is global momentum and the global economy. With the latest reports of both China and Europe having slower growth, our outlook for economic growth on a global basis is certainly weakened. This new information has expanded the precious metals rally which began early this week. On a technical basis today's video will look at the fact that we have come right up to a potential resistance area. That being said, my optimism and upside targets still remain the same. However, we might witness a small pullback as gold re-forms a base at these higher prices. As always wishing you good trading, Executive Producer |
