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'key reversal' in gold today

Started by pkamm, 10/07/2010 07:55PM
Posted 10/07/2010 07:55PM Opening Post
That's what it looks like anyhow, jmho -- occurred well into overbought territory, too
Posted 10/13/2010 08:21PM #1
smile The reversal ended up being the briefest of dips -- one day, in fact. But gold is very heavily into the overbought range at this point looking at the trend channel which the tape is racing towards the top of. The chart is going positively parabolic, showing the appearance of a 'blowoff' rally that precedes a hard crash.