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Gold/Mining/Energy : Gold Price Monitor

GDXJ 121.59

+2.2%

Dec 26 4:00 PM EST

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To: Bobby Yellin who wrote (11341)	5/6/1998 7:39:00 PM
From: bobby beara	Read Replies (3) of 116825

XAU Update: (howdy Bobby Y) equis.com Type XAU.x for a nice chart. New wave count and interpretation. 5th wave panic sell-off into December 8th Wave 1 began December 8th Wave 3 began January 12th Wave 4 began April 3rd I believe that the move from March 20th thru April 3rd was a fifth wave spike of wave 3. Wave 4 is a consolidation wave, which usually plays out sideways and is coming true to form, albeit the consolidation is getting wavy gravy with bottom in the 84 area and top in the 90's. We could hit strong support at 80 on this move and hold the uptrend, this could be a spike head bottom of a developing inverted h&s pattern. We could be in the process of building a giant bullish pennant or ascending triangle formation or inverted H&S or a megaphone. I believe we are approaching lower limits of the sell-off in the next trading day or two and should be ready for a move up. I don't believe this will be the crash up YET, but could run to the 90's and then back to the 84 area for the final bottom. Gold will remain in this indecision pattern until we get a news story that drives the wave 5 super spike that I think will send us to the 120 to 150 area. Start accumulatin them nuggets -g- bwdik bobby b

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