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Gold at 52 Week Average

Gold at 52 Week Average

2012-03-28 22:33:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Weekly Bars

eliottWaves_gold_body_gold.png, Gold at 52 Week Average

Prepared by Jamie Saettele, CMT

Bigger picture, the rally and decline from the December low may compose the base that propels gold to all-time highs. When viewed in the proper context, price action since September appears as nothing more than consolidation within a secular bull market. Resistance is 1700/25 and a drop below last week’s low should trigger losses towards 1600.

Bottom Line (next 5 days) – ?

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