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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.80

+0.9%

Nov 19 4:00 PM EST

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To: John Hunt who wrote (31917)	4/16/1999 2:34:00 PM
From: sea_urchin	Read Replies (4) of 116764

John : I'm sure one can buy futures on the XAU. But you should rather ask someone in the US. Re TA and resistances, I don't think about them as psychological arguments, rather as invisible lines on a graph where the graph is drawn as if by magic! One of the basic "rules of the game" is that a trend will continue until it doesn't. And an easy way, although not necessarily the only way, to know if it doesn't is to draw some lines --- resistance and support --- through cyclical maxima and minima. Of course, it's not as simple as that --- if it were we wouldn't be here! But a change in trend is something one ignores at one's peril or else capitalizes on to one's good fortune.

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