XAU 200 Target and Gold ETF NUGT – 011012

With today’s surge out of consolidation, XAU.X has potential to reach the next major resistance area around 200. This would push the Gold ETF NUGT higher.

NUGT is now trading inside the range of that nasdty red candle from 12/13/11. There’s no real resistance until the 50dma (red).

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