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A longer term perspective showing the ongoing interplay between the 4 year uptrend and the triangular pause of this trend that was created after an euphoric "overthrow" top in the yellow metal during the summer of 2011.
As the chart shows, the next several weeks should provide the answers as to whether the late summer rally of this year was the start of another sequence higher by holding trend line support, or was it a rally failure to where a significant topping structure is now in place. Stay tuned. Fib __________________ Dave's LinkedIn Profile Technical Watch Twitter Page Technical Watch Facebook Page "As for it being different this time, it is different every time. The question is in what way, and to what extent" - Tom McClellan "An economist is someone who sees something happen, and then wonders if it would work in theory" - Ronald Reagan "What we see depends mainly on what we look for" - John Lubbock "The eye sees only what the mind is ready to comprehend" - Henri Bergson “Answers are easy; it’s asking the right questions which is hard” - Dr. Who - 1977 "You know the very powerful and the very stupid have one thing in common - they don't alter their views to fit the facts, they alter the facts to fit their views (which can be uncomfortable if you happen to be one of the facts that needs altering)" - Dr. Who - 1977