Sunday, August 22, 2010

The bullish case for Gold

Gold looks prone to correct for various reasons. (FibTime, Overbought, DeMark, Seasonals etc.). The question we have to ask here is what conditions need to be met in order to question the long term bull market Gold.

The chart shows a fairly robust pattern we have observed in Gold in 1999. A correction into the 1120 would be even be considered healthy.

So until Gold does NOT enter into the below RSI35 Zone and can defend or re-capture the SMA 55wk, Gold will continue the bull run.




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