Monday, 29 August 2011

GDX

I am re-evaluating this in the light of NEM,HMY,FRES charts and have to say it looks quite bullish.Previously I had focussed on the bearish triple top but there are also 3 lows (arrowed) so a battle is taking place above the previous high,which is itself bullish,and it is a 3rd attempt at a level ie usually succeeds.So on balance a buyer with a stop under the 3rd low.Does this mean gold is not going to have a big correction ?...confusing


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