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Hello All,
Below is a current Daily bar chart for April Gold. Per my previous comments, the Gold has almost reached that potential $50 move up from the 1076.0 area I was talking about. Before Gold hits any optimistic targets of 1142.9 (where more buy stops are), I think it will fail for a bit of a pullback following the upward penetration of the 1118.4 area (which has already happened). Selling to market chasers, my prices to short the April Gold will be in the 1126.9 – 1127.2 area. Before gold takes out 1142.9, I think it will take out my profit objective of 1119.3. A little over a $700 per contract profit if successful.
Have a look at my website at, www.FASTMKT.com for an archive of what I’ve said in the past. Click on Market Updates and Links.
Have fun trading!
Sean Blair
+FASTMKT>> FOCUS
Adler 747, Inc.
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Sean.Blair@FASTMKT. com
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Direct. (949) 892- 6442
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****
Futures and Options Trading is Risky and Not Suited for Everyone. Trading in Futures and Options should be done with Risk Capital Only, and Should Not Affect Overall Lifestyle should Losses Occur.
There will rarely be a time when you will ask me a question about the markets that I won't have a solid answer for. I also write what I call a "bootleg newsletter." In it I will provide charts and comments about various commodities in position for a nice trade. A great way to find out more about what I do would be to call me. I welcome your call.
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