Daily Chart: Gold $ 1'245-1'250 could be a good level to sell.

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[COLOR="Red"][B]Daily Chart: Gold $ 1'245-1'250 could be a good level to sell.[/B][/COLOR]

Gold hit record highs against the US Dollar, at $ 1'217 per ounce. Some evidence suggests to me that this rise is coming to an end:

[I]1. A signal for the reversal of Gold against the Dollar could come from the statement made by [URL="http://www.barrick.com/News/PressReleases/PressReleaseDetails/2009/BarrickCompletesEliminationofAllGoldHedges1121310/default.aspx"]Barrick Gold Corp[/URL]. Barrick Gold Corporation, the leader in the gold industry with a portfolio of 26 operating mines and a pipeline of projects on five continents, has announced that it has completed the elimination of all of its Gold Hedges and now has full leverage to the gold price on the industry's largest gold production and reserves.

2. From a technical point of view, the bullish channel on the daily chart gives us resistance at $ 1'245-50.

[IMG]http://www.rtfx.com/images/news/GoldDaily021209.gif[/IMG]

3. Indicators of our system of technical analysis are showing a situation of alert that the bullish trend has come to an end.[/I]

[IMG]http://www.rtfx.com/images/news/RFTradertipGold021209.gif[/IMG]

Nicolas Longchamp
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