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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: Machaon who wrote (49481)	5/1/2013 9:27:55 AM
From: GROUND ZERO™	Respond to of 218856

Thanks, I went short gold and silver again this morning... I think there's a reasonable likelihood of breaking those recent lows, this rally may have been just a good bear bounce... we'll know better this afternoon if it closes weak... GZ

To: Machaon who wrote (49481)	5/1/2013 10:19:54 AM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 218856

Who knows what this afternoon will bring, but you can see how both gold and silver broke down out of that wedge pattern... most of the time, if not all the time, those wedge type patterns are broken when the price is about 65% through the wedge... and so, time was ripe for this kind of break out, and since it was a bearish wedge, the bias is to the downside... so far, both gold and silver are following the path given by their respective charts... GZ