Thursday, July 1, 2010

Gold In For A Dip?

In a Seeking Alpha article, Michael Michaud says to wait for a significant dip before buying gold. The nub of his analysis is his interpretation of the three recent record highs as a triple top, and divergences between three technical indiators' levels and the gold price itself. His target price for a buy-in is $1,050, which seems quite low.

Given how gold's dropped this morning, his article is certainly timed right.


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