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Thursday, January 19, 2012

Why it Just Might Be a Good Time to Sit on the Sidelines with Gold

Looking at gold today using our "Trade Triangle Technology" we see a long term downtrend line drawn from the highs of September 5, 2011 and intersecting the November 13th and December 4th highs, continues to be the overriding factor in this market.

That factor along with our negative monthly Trade Triangle continues to act as an inhibitor for this market on the upside. With a Chart Analysis Score of +60, this market is in a trading range.

Long term term traders should be in short positions in gold with appropriate money management stops. Intermediate term traders should be on the sidelines.

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