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Just One Good Thrust Would Muzzle Gold Bears

By: Rick Ackerman, Rick's Picks

 -- Published: Wednesday, 11 May 2016 | Print  | Disqus 

http://www.rickackerman.com/wp-content/uploads/2016/05/Gold-could-get-back-on-track.jpg

 

Bulls barely kept their heads above water Tuesday and will have their work cut out for them if they are to avoid a dunking. That would require a print at 1277.80, a mere $7 above current levels. The most bullish scenario I could imagine at the moment would be a thrust over the next two days exceeding the 1297.05 midpoint Hidden Pivot of the pattern shown. That would steepen the trajectory of the rally since mid-February while presumably quieting the bearish buzz that seems to attend every bout of weakness lasting more than three days. Visit our 24/7 chat room and share timely ideas and real-time results with great traders from around the world. Click on the link for a free trial subscription.


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 -- Published: Wednesday, 11 May 2016 | E-Mail  | Print  | Source: GoldSeek.com

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