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Gold/Mining/Energy : Gold Price Monitor

GDXJ 96.06

-1.4%

Nov 17 4:00 PM EST

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To: Gary H who wrote (70531)	5/28/2001 3:10:37 AM
From: Andrew	Read Replies (1) of 116762

I think one other thing that we can tell from this chart is that it can take several quarters or even years before gold is up substantially from these levels. Substantially meaning in the $400 area. The thing about W %R is that it can remain in the overbought or oversold area for several bars. Look at the length of the periods it spent below the 50 line the last 2 times, 81 - 86 and 88 - 93. About 5 years both times. Then look at the number of years above approximately 2 years. Well its been below for about 5 years again since 96. Chart patterns often repeat themselves.

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