Precious and Base Metal Investing Message Board

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Gold/Mining/Energy : Precious and Base Metal Investing

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To: austrieconomist who wrote (12442)	6/18/2003 9:50:55 AM
From: Little Joe	Read Replies (1) of 39344

I have had a chance to update tech analysis on golds. On the positive side, on the weekly charts HUI has broken out to the upside of an ascending triangle. According to Magee, for this to be a valid breakout we will need to see the HUI at about 160, which gives the desired 3% which confirms that the breakout is not a fake out. On the negative side, some of the other gold indexes that I follow have not confirmed yet, volume is less spectacular than I would like, the momentum indicators and some accumulation indicators that I follow are not confirming the breakout. While I am positive on Gold for the long term, I still think we are in limbo, not sure if short term we will see a reaction or if this is a huge breakout leading immediately to higher prices. Little joe

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