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Gold is setting up for a massive breakout in 2H 2013

Posted on 21 January 2013

If gold is able to firm up here and then it has a good shot to rally back to $1,750-$1,800 over the next few months. If we get the bullish scenario and a fundamental catalyst shift then expect gold to break past $1,800 in Q3. That would mean that gold consolidated for two years which would be its longest consolidation on record. The longer the consolidation, the more explosive the breakout.
Following that editorial, we noted that various sentiment indicators continued to look favorable even as the market began to make some progress. For example, the daily sentiment index for gold touched 6% yet gold didn’t make a new low. At the same time we saw a continued reduction in speculative long positions……………………………………….Full Article: Source


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VRS - who has written 36521 posts on Opalesque Commodities Briefing.


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