Barclays: Gold can go to $1500
Alex Stanczyk (October 7th, 2009) Writes:
Its almost comical to see the big banks coming out of the woodwork with their opinions on how high gold is going to go now.
If you are a trader (I am not) maybe that means its time for a little pullback. Certainly is alot of confidence oozing from this article.
Gold, ‘Off The Charts’, May Target $1,500: Technical Analysis
By Glenys Sim
Oct. 7 (Bloomberg) — Investors should hold onto long positions in gold as bullion has “significant upside potential” to reach as high as $1,500 an ounce, Barclays Capital said, citing trading patterns.
“Having rallied ‘off the charts’, we are left to resort to projections and extrapolated trendlines to forecast where the move might stop,” Jordan Kotick, global head of technical analysis at Barclays Capital, wrote in a note e-mailed today.
So-called trendlines are used to determine momentum and are found ...
Tags for this Post:
Alex Stanczyk, Australia, Barclays, Barclays Capital, EUR, forward, Glenys Sim, Global Head, global head of technical analysis, Gold Markets, head of technical analysis, Jordan Kotick, reporter, Singapore, TRADER, two steps back, USD
Alex Stanczyk, Australia, Barclays, Barclays Capital, EUR, forward, Glenys Sim, Global Head, global head of technical analysis, Gold Markets, head of technical analysis, Jordan Kotick, reporter, Singapore, TRADER, two steps back, USD


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