Gold and Silver Juniors, Mid-tiers and Producers Message Board

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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: LoneClone who wrote (22909)	10/16/2006 10:11:03 PM
From: TheSlowLane	Read Replies (7) of 78416

Mike Swanson thinks we might get one more dip: "On Friday, the XAU closed above its 20-day moving average while breaking the downtrend line connecting its two September peaks. This serves as confirmation that the XAU and gold stocks did indeed bottom. The trend is now up. Short-term resistance on the XAU is now at 131 and then 135. The 1/3 retracement level of the September-October bottom at 131 is also the point of the XAU's upper daily bollinger band. I think we're likely to see the XAU go up to this level and then pull back down into the 124-128 area and then proceed higher." kitco.com

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