SBM 0.00% $1.53 st barbara limited

5.5 percent will it hit 1 dollar this year, page-22

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    What would SBM trade at with its new reserves/resources/production if gold was 790 ;)


    Gold , Oil & The Dollar
    By Colin Twiggs
    October 31, 2006 2:30 p.m. AET (10:30 p.m. ET)


    These extracts from my daily trading diary are for educational purposes and should not be interpreted as investment advice. Full terms and conditions can be found at Terms of Use. The next newsletter (an update on Stocks & Indexes) will be on Saturday.



    Gold
    Spot gold formed a higher low at [E] before breaking through resistance at $600/$607. Retracement that respects support at $600 would confirm the change to an intermediate up-swing.







    Source: Netdania



    Medium Term: The recent rally also penetrated the upper border of a large symmetrical triangle, another bullish sign. However, crude oil prices are weakening and may drag gold back, so we need to wait for confirmation of the breakout. The target for an upside breakout is calculated as $790 : (600 + {730 - 540}).

    Long Term: Gold remains in a primary up-trend with support at $540.
 
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