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GOLD: Looking very bullish!!!

  1. nickoo

    1,816 Posts.

    The gold price closed trading the NY on Friday above the key $310 level.

    On the weekly chart of COMMEX gold, three candle hammer formaions with long handles are evident- which is imho looking bullish. ( it demonstrates a clear rejection of prices below the $308 level).

    Gold stocks in NY also rose very strongly.

    The Phlx Gold and Silver Index (XAU) rose over 4% on Friday, and close on its highs.

    It is now less than 1% away from going into record highs again.

    All in all, the action of POG and gold related securutues on Friday was very positive.

    Let's hope it continues!

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