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Monday, May 2, 2011

Gold Weekly Chart Overbot Negative Divergence

Gold was topping and rolling over late 2010 into February 2011 but the Middle East turmoil hit and the precious metal never looked back. Despite this uber large move north, the indicators remain negatively diverged indicating that even with the Middle East premium built in now, price is too high. A pull back is in order now with sideways to sideways down moving forward. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your financial advisor before making any investment decision.

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