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13th Sep - The Rally in Gold Continues

13 September 2012

MONTHLY CHART - CONTINUATION

The major 23.6% retracement has provided clear support and prompted a rebound.

WEEKLY CHART - CONTINUATION

The earlier drop back stopped well short of the 1442.00 38.2% level of the 2008/2011 upmove. Recent strength has tested the old rising support/return line, and we wait to see what resistance emerges here.

DAILY CHART – Dec-12:

Strength here has now reached a 76.4% retracement level where, s/term, we await reaction. But there is currently little sign of fatigue so keep in mind the higher falling resistance near 1775.00 and the Feb high near 1800.00, which offer key resistance. Break of these should redden the bulls’ rags.

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13th Sep - USD/CHF Pullback Nears Key Supports

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7th September 2012 - The irrepressible S&P

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