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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 8936
Posted: Feb 22, 2010 5:00
Comments: 8936
Forum Topic:
Gold, Oil & Indices (Equity & Bond Indices)
Discuss Gold, Oil & Indices (Equity & Bond Indices)
http://www.youtube.com/watch?v=FZI1vWZFybw&feature=related
Telling the Swedes on Oct 21st why we'll see 1260 in $SPX .
Starts after 12:50 minutes below :
http://youtu.be/paIwdUwgtiw
Ashraf
Friday's (NEW) Long gold between 1640-1645, for limit between 1655-1660, stop at 1631 hit all targets.
Still more of that consolidation to come in gold and silver.
Let see how the Asian seasonal demand pans out (buying in Oct & Nov)
As a result, the Premium trades in gold and silver continue to play the range
Ashraf
The immediate support is around 1520-30s, which is the 200 day mov avg
Looking at a daily chart since the 2008 lows, gold never closed below 200 dma since then.
So those who are long gold gold for the long term (like me), should be in good shape as long as we do NOT see a close below 1520s.
One more wave of violent deleveraging and/or good (temporary) news on the Ezone debt front may serve as catalyst to bring down gold again.
As for the highs, we could regain the 1900s and more sometime in H1. cannot see it this year.
Finally, I will ONLY throw the tower in gold if we go to 1360s.
Ashraf