05.10.2012 - Gold about to break out toward $2,000
As a result of the recent barrage of aggressive central banking action, October gold futures are not only making new 2012 highs, but are also approaching a key technical level: While not a technical top, the $1,790-$1,800 region has acted as an area of strong resistance since November. After bottoming around $1,530, gold moved in a sideways pattern in which a series of higher lows were made before the commodity broke out above $1,600 on QE3 speculation. Over the past three weeks, gold has been in another consolidation pattern between $1,760 and $1,780...............................................Full Article: Source
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