October Gold is up $1.30 per ounce at $1013.90 this morning as I write. The enclosed chart shows that almost every day, gold prices trade down to and through the rising 5 day exponential moving average, only to rebound and close over that average, which continues to show the strength of the uptrend. The directional movement indicators are bullish and the ADX line continues to rise. The positions that followers should have, are the same as mentioned yesterday. The strategy remains the same; to take advantage of the looming major up move in gold. The October gold options expire next Thursday.

Sep. 18, 2009
David Hall