Tuesday, February 24, 2009

Gold gold gold. Breakout imminent

Gold had a good run since Nov 2008. However, the recovery is fragile until the last one week when it broke strong support at 950. Once it breech $1000, the market rally will continue and the expected price will be $1,600 - 1,800 by the end of 2 years. it may correct at the $1000 market before penetrating the $1000 point. accumulate at this point. A potential inverse head and shoulder will be formed. Market Volume is dismayal so any investors can push the price up and down. It seems that investors are anticipating the US dollar is going to fall soon so flight to gold is the first clue. Start offloading any US dollar deposits and bonds.

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