Talk­ing Technicals

Financial Mail - Investors Monthly - - Analysis: Technical - GARTH MACKEN­ZIE www.trader­scorner.co.za

above $1,375 does oc­cur, it will be a very bullish break that would take the price to a sixyear high. Once above $1,375 there is not much re­sis­tance in the way un­til $1,550 per ounce.

The price has moved up swiftly in the past few months, so ide­ally you would want to see a re­set in the price in com­ing months to set the stage for an at­tempt at $1,375.

The chart does look con­struc­tive, but a break above $1,375 would be needed to get the gold bugs re­ally bullish.

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