Tuesday, December 28, 2010

Gold more pressure to the upside in the coming weeks

NEW YORK (TheStreet) -- Scott Redler, chief strategic officer at, reveals what has to happen to gold prices to believe in Tuesday's double digit rally.

Scott Redler,:"....and we've now been in about two and a half month consolidation. Or after we put the height above 14100 we've been holding higher. What I wanna see some -- and above 14100 I don't wanna see get back book thirteen eighty and I do think at some point in the first quarter. We will see new highs will be our way into the 2011 projections which about sixteen to 18100. He -- you don't wait and see because this break up if they got because just short. It could be a little bit of -- so I think it's somewhat for real I was expecting -- move more towards second quarter I think right now if you were long. Verses thirteen point thirteen 31 take a little profits on this popped -- 14100 that's fine but don't get flat stay long gold so that's an indication it welcome -- for the rest -- what you wanna do is right now we have a program. -- up double digits it's up. Is -- huge gap from when we closed yesterday to today if the bears can't fill that gap ....

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