Where Commodities Are Headed Next

By Chris Vermeulen of TheGoldAndOilGuy.com

When commodities start a trend they become very profitable for those riding them up or down. But when a short-term trend starts to go virtually straight up (parabolic) then we must be prepared for a sharp pullback. Once the price of gold starts to slide, I figure a lot of short-term traders will begin locking in profits, pressuring prices further. SPDR Gold Shares(GLD Quote) Gold continues to claw its way higher as traders trip over each other trying to buy this shiny investment. The weekly chart clearly shows a parabolic spike. Vertical spikes like this do not last for long, but the largest percentage of the move will be made riding this trend up with a tight stop.   Loading Comments...   < Previous 1 2 3 4 5 Next >

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