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SPDR Gold Shares Message Board

  • swordsmanzorro swordsmanzorro Dec 13, 2009 12:36 AM Flag

    Frightening Gold Chart

    Don't get me wrong, I'm long and medium term bullish on gold and silver. But when I look at the gold chart, I see trouble. We hit 1200 and headed right down. Steep up and looks like steep down to follow. We have two big gaps at 1075 area and 1025 area. I think we likely fill those before we head back upward. Take a look at the weekly gold chart and do your own D & D. But I think I keep my powder dry til we get back closer to 1000 before I buy big time. The fundamentals all favor gold, but that doesn't mean we can't have some short, sharp corrections, which are typical even in a raging bull market.

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