Since this is large, long-term pattern, I think it is quite bullish for the yellow metal.
If we measure the neckline to the head, we get about a $280 difference, which means that a current target should be roughly $1200-$1250 on Gold.
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As I told you today I bought GDX (miners) and UGL (double long Gold).
ReplyDeleteIm watching FAZ and SRS go higher and getting pissy, but oh well.
BTW... My stop is $930 on gold. If we go below $930 I dump both positions.
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