Gold Technical Analysis April 26, 2011

Gold formed a “spinning top” today, but is still above the $1,500 mark. This shows how strong this market remains, and that it is a buy only type of situation. The market looks like it wants to pullback based upon the candlestick, but this should only provide a buying opportunity in this commodity as more buyers will certainly be interested at $1,500 and the $1,475-$1,480 area.

(Source: http://www.commoditiesmansion.com/commodities-analysis-video/gold-technical-analysis-april-26-2011/)