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Royal Gold, Inc. Message Board

  • steviejshoes steviejshoes Mar 8, 2009 8:27 PM Flag

    Should be a big week

    Gold should be up strongly this week and that SHOULD translate into higher share prices for gold related stocks. Gold is in the sweet spot of the current 8 day Pi Cycle and it wouldn't surprise me if it closed up every day this week. Shortly after trading opened tonight, gold broke down toward $930 once again and bounced sharply off that important technical area as it did several times on Friday. Very little doubt that weare going higher here.

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    • Well, obviously that was one bad call. Sometimes when it looks too easy you have to step back and take a longer look. I guess if it were that easy we'd all have a lot more money. Anyway, different set of parameters now. The line in the sand is now $890 which is another important technical level. If it holds above this level then we are still okay and we will move up smartly from here. However if that level is violated to the downside by more than a few dollars, then we will experience a more serious correction. As of this writing gold is trading at around $894 in overnight trading after dropping as low as $891. Good luck to all.

 
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