Sunday, November 09, 2008

Gold - Inflation expectations are rising. GDX, AUY, ABX, NEM, RGLD.


Gold Inflation indicator is still to be confirmed by decisive move up from recent Low. On a positive we have Buy cross on PPO and very strong candles. Danger here is a break down from Bearish flag. We need US Dollar to come down and implosive move in Gold up with Short squeeze, like in the beginning of September. First step will be to close above 750 weekly and then above 800.

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