..Gold today broke up through the 4 month resistance level of $1140.

However, we cannot at this point be sure that this is not a false move. If you look at the daily chart of $GOLD on stockcharts.com you will see that this is the 4th time since the beginning of Dec/09 that the price of gold has broken this resistance but on each previous occasion the following day it reversed and closed below $1140

They are known sometimes as "Bull Fakes".

What we need is confirmation, either the price continues to climb or it falls back to $1140 to test that level and then bounce up or it can close below $1140.

We need to know if $1140 level is still resistance or has changed to support.

Just wait a few days before making decisions based on this "breakout".

Be careful

Centurian