What's Up With Gold (Beside Its Price)? By Jim Wyckoff About this article: December gold futures on the Comex division of the New York Mercantile Exchange this week hit a fresh 6.5-month high of $999.50 -- just shy of major psychological resistance at $1,000 an ounce. The big gains in gold this week did produce a bullish upside technical "breakout" on the daily charts. Prices are also in a technically bullish two-month-old uptrend on the daily charts. The next major upside price objective for the recharged gold market bulls is producing multiple closes above the key $1,000 resistance level, basis nearby futures prices. Recent history has shown that once gold prices do get near or push just above the $1,000 level, the market then quickly loses steam and prices fall back lower. However, if the gold market bulls can produce sustained daily closes above $1,000, that would provide the market with the technical momentum and bullish trader psychology needed to establish a... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200.

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