Gold is breaking above resistance…Will it help Crude Oil and the 500 Index do the same? by Chris Kimble | Feb 23, 2012 | Kimble Charting CLICK ON CHART TO ENLARGE A positive break above resistance took place yesterday, as GLD broke out at (1) above. At the same time Crude Oil and the 500 index are facing resistance. Will Golds breakout help pull Crude Oil and the 500 index higher? 4 Comments InvestorX on 02/23/2012 at 3:39 PM Eurozone crisis = a cloaked QE-3 has been evolving = Gold and Equities run up, at the expense of the Dollar, and advantage Euro Aleks on 02/23/2012 at 9:03 AM … or will Crude Resistance pull GLD down? If GLD break is fake – it looks exactly like the previous GLD break on the same chart … Chris, Thanks for great work Aleks Josh on 02/23/2012 at 6:36 AM It sounds to me like the bearish wick in agoust…let’s see what happens… Mark S on 02/23/2012 at 6:18 AM What about silver? It seems to be at the top of the falling resistance you showed in the last silver post. Will gold pull it through? Gold seems to have snapped back inside a 3 year rising channel with support for GLD at 168 – does that look right?