Commentary for December 26, 2007

| December 26, 2007

The pennant formation breakout that occurred in the Gold Currency Index (GCI) last week was confirmed today by gold in US dollar terms as it also moved convincingly above pennant resistance. Both daily charts have now signaled the start of a new uptrend:

Once again, a positive divergence between the GCI and gold has provided advanced warning of an impending move.

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Category: Commentary, Market Update


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