Technical Analysis. Charts. These terms sound glamorous, but are only useful tools if used judiciously in conjunction with fundamentals of the market.My daily chart above (click for larger image) shows the seasonal August low. Quite unexpectedly lower, but now it does look the low of the summer, and if not, it will be part of the bottoming formation for sure, in my opinion.
While I am writing this spot gold has hit above $842 ! Thanks to tropical storm Gustav, oil is higher, and so is gold.
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