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Katwomyn

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Gold was crunched last night in the US. The daily chart appears to have fallen through the 390 support. However the weekly chart shows the three black candlesticks which may set gold up for an engulfing pattern. So while gold has fallen through the 200sma (and the support identified by Pythagoras7) and the MACD for both daily and weekly charts does not look good, it is not clear at this stage that the up trend for gold has been broken.

 

Cheers Charles

 

ps Great link btw Pythagoras7

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agree chiller, however, trend has not yet been broken....fibs and fans all over the place, I will wait till close today to call it broken... the market is shaking out weak hands and potential to either make a whopping loss or pick up bargains, check before you vary your position, be convinced.... good luck
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Hi Gold bugs... good morning...still some storm to weather, so fasten your seat belts ... if you don't have worry beads, take a walk and keep a bottle of st John's worts handy... but seriously fellas, the carnage is not yet over ,, but remain calm and rational ... when we panic we lose money, be deliberate and thorough with your analysis and good luck to us all...

as for me.. I will not be selling today.. I may buy to top up quality stocks... sitting on my hands fellas...

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Good on you Innocentone. You'd be mad to jump out now. I'm doing just what you are, sit on my hands and planning on topping some and buying other cheapies. Shame I don't have a lot of cash available. It's quite a show thanks to the Chinese stating they must slow down their booming economy, doubt they can ignore demand for nickel and energy....nice pullback for them to buy materials cheap I guess ;P

 

Varmi

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