Gold - Richard Russell: Gold has officially broken to the upside

Wednesday, February 08, 2012




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Richard Russell: Gold has officially broken to the upside

Thursday, August 06, 2009
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From 321 Gold:

The P&F chart of GLD (which is a reasonable proxy for gold) is well worth studying. As I write GLD is trading at 94.68. At 95 on the chart GLD will have broken out on the upside. A breakout from this formation would be very bullish and could take gold toward an attack on the highs.

Flash – as I finished this section GLD hit 95.12. This up-to-date chart shows the breakout. The breakout gives us a P&F “count” to 105. August gold closed up 10.90 to 967.50.

Good action, no dramatic surges, just steady quiet rises.

Hopefully, nobody’s noticing.

See chart...

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Read everything we've posted from Richard Russell.

Topics:		Gold \| Richard Russell \| Commodities

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