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GOLD BUBBLE?

20 Oct Posted by in Market Forecasting | Comments
GOLD BUBBLE?
 

 

Time to be an Egyptian and PYRAMID!

All that glitters is not GOLD.

 

Is this the final hooraah on the upside?

Resistance is formidable at $1700/oz.
Short term target $1500/oz.
Long term target $1000/oz by early 2012.

 

Fundamental Reasons:
1- The European bubble is now under control. Would rather buy Greek bonds and earn 50% return, instead of buying gold bullion to store it under my Persian rug at home!
2- Qaddafi of Libya is dead. This will create stability in North Africa and the Middle East, especially in Egypt, which is the US main ally. A retracement to the 2008 level of $1000/oz is now a high probability.

 

Technical Reason:
My technical indicators have been screaming sell gold for the past month. Will explain in my upcoming webinar.

 
Join my upcoming Free Webinar

 

Risk Disclosure: There is a risk of loss in trading. Whether it is commodities, stocks and/or options, only risk capital should be used when trading in the markets. Pacific Trading Academy is not a brokerage firm. What we teach our students in the program are not trading recommendations. Our instruction is for educational purposes only.
 

 

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