By: Scott Redler
We posted action alerts recently breaking down our reentry into the long gold trade. As of December 22nd, we had accumulated 2 tiers long in the GLDs with an average price around $107.50. With prices gapping up through the recent downtrend line, I will look for a move to $110.50 in order to lighten up back to Tier 1, with locked in profits and some room to run. We should likely see a move up to $112-114 before hitting some resistance. As I have been saying, this trade is not over yet. We got one explosive move, and will continue to follow up on this trade for more upside.
