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Richard's Remarks

 

The trend continues bullish. This is confirmed by the DIAs (chart below) breaking out to the upside. Remember, use a price of 154 as your safety level. If the DIAs drop blow 154, sell them and take a small profit. Note that the RSI is almost overbought, and the histograms are trending lower.

 

 

 

 

I'm pleased to include the chart below of GLD. Here we see gold climbing above its 50-day MA, and at the same time rising above its trendline. RSI and MACD are both positive, suggesting that the base that has been building in gold is now complete.

 

 

 

 

The P&F chart below shows GLD climbing to the 130 box and perhaps needing a bit of consolidation. Therefore, it would not surprise me to see gold down a bit today. Of course, a rally to the 144 box would be extremely bullish, and would point to much higher-priced gold.

 

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