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  • Gold Target for Week of August 31st

    Posted on August 31st, 2009 No comments

    Buy: $947 | Stop: $942 | Target: $983 | Quick Target: $968

    Look at this chart below! We have been in limbo for the past month forming a triangle formation. After drawing the trendlines and looking closely at the triangle formation, I’m confident that we broke the upper trendline on Friday. This being said, the upside should be strong and fast. September should be a very big month for Gold, possible breaking the $1000 mark and finally holding. For the short term, I expect gold to hit $968 for my quick target and $983 for my high target. Enjoy trading!

    Gold Chart Ending August 31st, 2009

    Gold Chart Ending August 31st, 2009

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