I remain convinced that gold is going to fall back to the $850/oz support. Recent levels have been weak ones, and I dont think a basis for a new rally. The gold price would have to rally above $US950/oz before I would concede. Regardless it is apparent that gold is revising its upward trend, with 3 plausible new trends in-play. I have indicated my preference for the more gradual trend line which sees gold falling back to $850/oz.--------------------------------------------
Andrew Sheldon www.sheldonthinks.com
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