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A Trading Range or H&S Top?

Posted by StockBuz on January 16, 2011 at 7:22pm
Everyone's wondering what's up with gold and his chart of GLD theorizes that we may be seeing a H&S top in the precious metal as it broke support, tested that [now] resistance and turned yet again lower.......all while the USD was sinking; not rising. If the selling persists, the H&S top target would be near the 155d SMA, which is proven to be a sweet spot for the shiny stuff over the last two years. Again, just a theory. I'd be interested in hearing others opinions

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Tags: short-ideas, gold, gld
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