By
Gregor Horvat |
Commodities | Nov 25, 2012 10:00AM GMT |
We expect rise into a new high on gold after recent sharp rally through red resistance line connected from all-time highs. This break is now very similar to the one that occurred in 2009 when gold was trading around $900 per ounce. In fact, from an Elliott Wave perspective this recent price action definitely looks corrective, a nice wave IV that will put wave V in progress, possibly towards $2000 per once.
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