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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: Giraffe who wrote (22912)	11/13/1998 4:09:00 AM
From: bobby beara	Read Replies (1) of 116762

Giraffe, I believe we had an ABC countertrend rally into the 67 bottom. Whether that was a complete enough consolidation/correction to make a base for the next upleg (which should be substantial) remains to be seen. It certainly did wash out the extreme bullish sentiment at the 10/7 peak. digisys.net I agree that the $ index looks like a bear flag. There is a certain element of panic buying at the peak. There is a nice 5 wave completed pattern right into an area of strong resistance. I believe the market made a top last Friday, if I'm right the Dollar should follow the market down. Gold went against the tide and moved up in the face of a strong dollar, very bullish. bb

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