Gold, Silver and Oil Charts
Bill Cara carries this 5-minute bar chart of gold. This chart is pre-second session. where gold closed is now $700.50.
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I was struck by the charts similarity to Silver daily chart (see chart). It's is scary to be long precious metals in a bull market. That is a scary decline from $14.50 to $11.70 in three days, yet we have broken out again. Looks like next target for Silver is $17 to $19!
While the chart of Light Crude is slightly different and more scary if you are long oil, could turn out the same way as Silver and Gold. (see chart)
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Posted by movermike on
Tuesday May 9, 2006 at 4:44pm
