Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: longdong_63 who wrote (26239)	1/22/2003 9:13:12 AM
From: Little Joe	Read Replies (2) of 36161

I have recently reviewed a chart of gold that goes back to 1978 and it shows a 15 year trendline which appears to touch current prices at the 358 level. Using Murphy's rule of thumb of a 3% break of an imortant chart line, we can assume this very long down trend line will be broken if gold ges to 368 1/2. I suspect there will be a fierce battle at these levels and would not be surprised to see the price of gold regroup before penetrating this long term down trend line. On the other hand, given its surprising strength, nothing on the upside would shock me. Little joe

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