By Amanda Cooper
LONDON |
(Reuters) - Gold prices are set to mark an eleventh year of gains in 2011 as investors seek refuge from an uncertain global economic outlook, with analysts revising up expectations sharply in a Reuters survey released on Wednesday.
Sloshing Around
· John Lee
· July 22nd, 2010
The action in the $SPY remains inside the larger descending wedge/channel. Upon closer inspection, the area between the 20-day and the 50-day MA’s have been tested multiple times. In the end however , there is no victory, yet. We’re still chopping inside the MA trap.
Possible bullish falling wedge forming on top of what was a resistance zone and now should be support ( short term trades)