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"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10
Tuesday, May 8, 2012
Au Symmetrical Triangle updated...
The picture tells the story. Gold is down pre-US open, but still within the Sym-Tri. It will either break or it will not. So many people have been instructing gold to go down, I get it. But the thing is, it has not gone down, though it remains pressured under the moving averages. If it gets above those moving averages I would not recommend gold bearishness.