Gold Technical Analysis for the Week of October 17, 2011
Gold markets continued to consolidate this past week, barley moving in the big scheme of things. However, the lows are gradually getting higher, and the market has been very resilient in its ability to shrug off selling pressure and rebound. With this in mind and the fact that there are plenty of headline risks out there currently – we like this market a lot, and suggest that buying on the dips is the way to go. We couldn’t sell it – the uptrend has been going on for over ten years now.
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