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Two “TA” Possibilities for Gold
On this chart I have depicted the two possibilities for gold, in terms of future price action. The “red” I believe is the more likely possibility. Yes, I am super-bullish on gold right now! Once again, I believe gold is headed to a new all-time high this year. The question though, is if gold can extend well-beyond $1,000 or if gold enters a major corrective phase once it makes that new high above $888 (the old high). The former, is a stronger bet (at this juncture). We will let you know if our outlook changes.
More on this topic
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Tomorrow: “The Biggest Gold Story of the Last 50 Years Hits the Press?” (McCoach)
(Stock Gumshoe, 3/2/10)
Is It Time For a Run to New All-Time Highs in Gold?
(Gold Versus Paper, 2/16/10)
Why the Gold Bubble Will Peak at $2,000 in 2010
(Money Morning, 1/23/10)
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