Gold broke down from a triangle pattern but the downside has been pretty poor – the bear trap scenario might be in play (browse the archive for more details). Bear side speculators must be disappointed and might soon suffer great loses.
Thursday, August 31, 2006
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2 comments:
I'm definitely bullish on gold here. Silver has also had an upside breakout as well.
Hey,
Lots of people are calling the oil to drop to 60$. Watch out for those levels. Gold shud act in equivalent proportions.
Fed news on 15th will be a piece to watch out. And 9/11 anniversary also..lets see if uncle osama has some deadly plans.
Aparts Bush seems to want a calmer world now. End or war shud mean end of gold rush
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