The Bearish Reversal in Gold

Posted by ChartWorks - Ross Clark Institutional Advisors

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Gold

08/23/2011 – Today’s  bearish  outside  reversal  in  gold  and  silver  in  the  appropriate  time  window  for  a  top  sets  the  stage  for  a  decline  into  September.    Initial  breaks  from  tops  typically  take  six  to  nine  trading days. Silver  should retrace  a  Fibonacci  61.8%  or  more  of  the  advance  from  June;  targeting  $37.60. Gold  should  straddle  the 50­ day moving average ($1670) within two weeks – Ross Clark via Institutional Advisors,


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Gold

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Silver