Here's a little gold puzzle for you to ponder as you're getting ready for the weekend. See if you can figure it out.
Crude oil reversed sharply to the upside last week so it seems that five waves down completed the wave 3) and the current rally is a part of a contra trend reaction.
The stock market could use a healthy correction soon, before prices start rising at an unsustainable pace.
FEB14 gold shot up this morning, trading up $27 to $1,261. $1275 is our next key target and resistance level. Gold now looks like it could have some momentum to the upside, and possibly approach $1,290.