Look back over the past, with its changing empires that rose and fell, and you can foresee the future too.

— Marcus Aurelius


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Friday, July 13, 2012

GOLD ..follow up

Looking at the daily chart..

Lots of support at 1525, so only a significant close BELOW that level would turn the chart bearish..
Many  looking at 1540 level as key, so a break there MAY see quick sell..but 1525 looks stronger.
If we break higher out of the large wedge..eventual target would be close to 2000 USD

IF we break 1525 where could it go?  
Previous resistance was 1438 in 2011 and once it broke there 1476 was support on the pullback, so a range of 1438 to 1476 could be possible

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