Yahoo Finance: Gold on the Rebound: Is the Bottom Finally In?

Of all the investment opportunities that exist in the world, few can claim to have the devoted fan base that gold seems to enjoy. And yet, for all its appeal with the so-called gold bugs, this precious metal has nearly as many skeptics, who never pass up an opportunity to trash the virtues of owning expensive rock.

But somewhere in between these polarized factions exists a cadre of opportunists, free of any bias, who simply follow trend lines to determine on where prices are heading. Jonathan Krinsky, chief market technical analyst at Miller Tabak & Co, is one of them.

"From a price level perspective, oftentimes when you break down from a level, you retrace and then there's a lot of overhead supply that makes it difficult to push materially higher," he says in the attached video. "I think that's where we're at right now."

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