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Strategies & Market Trends : P&S and STO Death Blow's -- Ignore unavailable to you. Want to Upgrade?

To: jjkirk who wrote (18220)	12/4/2002 3:01:15 PM
From: Jeff	Read Replies (1) \| Respond to of 30712

you have to watch the daily charts....... that weekly d-blow is just a major warning for those who plan on holding golds longterm..... much like the nasdaq weekly d-blow last march was telling folks they better not hold nasdaq stocks.... anyway....on the daily XAU....its in a bear trend pattern of 2-3 day ups (throw the longs a bone) within a downtrend... also in a triangle and DT area of 71......if the daily can't break that pattern and breaks down out of that triangle....that weekly DB will toast gold longs... if it breaks out and up....and breaks the grip of the DB....its a failed bear signal and a failed signal is a strong signal.... right now that weekly doesn't matter.....in the near term its which way the daily breaks....