Oct 26, 2011

Gold Headed For higher Prices

Well, how things change in the stock market. A couple of days ago I issued a sell signal in gold, anticipating another leg down. But once again gold tagged the 150 MA, rallied weakly for two days up to resistance and instead of turning back down, flashed a very strong accumulation day that sliced through resistance like a hot knife through butter. From my experience, when negative signs give positive results, this is extremely positive (and vice versa). As this is only the beginning of a new daily cycle, which should last for at least a month or so, I believe gold will soon attack the all time highs. I bought a share of silver ETF SIVR to participate in this rally.

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