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Setting the Table - A Look at Gold
Ron Griess
Summary points:
* The saucer pattern of price action of both the nominal and "real" price of gold represents a multi-year consolidation and bottoming formation.
* The upper orange downtrend line of "real" prices is slightly above current levels.
* A period of sideways price action (a handle) might set the table to break above the downtrend line and old resistance at approximately $430/oz.
hxxp://www.gold-eagle.com/editorials_04/griess082804.html
Ron Griess
Summary points:
* The saucer pattern of price action of both the nominal and "real" price of gold represents a multi-year consolidation and bottoming formation.
* The upper orange downtrend line of "real" prices is slightly above current levels.
* A period of sideways price action (a handle) might set the table to break above the downtrend line and old resistance at approximately $430/oz.
hxxp://www.gold-eagle.com/editorials_04/griess082804.html
