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Commerce Bank, Gold, Oil futures Vialoux
Posted on May 21, 2008
Citigroup is calling for a brief period of consolidation in gold prices this spring followed by a resumption of an uptrend during the historically strong July/October period and eventually a double in the price of gold in the long term. The strategy makes sense. Gold and gold stocks appear to be forming a base building pattern this spring. Technical analysts are looking forward to encouraging technical signs for an entry point into the sector as July approaches. A key technical parameter to watch is the 200 day moving average. Gold has weakened to its 200 day moving average on multiple occasio...
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