Thursday, August 6, 2009

Interesting Action in Gold


Usually, a bunch of shooting stars and hammers signal reversal. But look at what happened in October 2007... If gold is in a uptrend, it often makes a quick stab down to trap shorts, only recovers loss soon after. Today gold marginally undercuts important 960 level quickly snaps back is interesting. I believe it will back and fill in next a few trading days before the long waited breakout.

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