Thursday, January 27, 2011

Is Gold's Correction Over?

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Gold has declined nearly $150 from its peak. Itz has looked at several chart patterns recently. One that comes into play this week is the 150 day moving average. In the past the moving average has been a pivotal point to enter gold, as highlighted in the chart below. Itz decided to look at how Gold, Silver and Copper have performed at each of those periods.  July 29th, 2010 March 25th, 2010 February 5th, 2010 July 13th, 2009

Will gold rally this time? And will silver & copper outperform? The next few days & weeks will tell.

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