Wednesday, October 11, 2006

Gold bottom?

Gold might be finally bottoming and higher prices are about to follow. Obviously it is not guaranteed and any market participant should make his own decision. I would favor initiating long position at current prices while keeping enough cash for averaging down or up.

The two charts below present the case for what I assume to be important secondary bottom of this great global gold bull market.

gold spot intraday chart

gold spot weekly chart

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