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March 18, 2014

Gold Swing High

Routine Pull-Back or Cycle Peak?

Gold followed through on yesterday's reversal by forming a daily swing high. A swing high is a precursor, but not a guarantee, of a cycle top. I sold my gold yesterday due to doubts over the sustainability of the intermediate cycle rally. However, I also admitted that from a technical standpoint, the sale was premature. We must consider the possibility that ...

 

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