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learningboutinv

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learningboutinv

Re: CaribbeanJim post# 6259

Sunday, 06/08/2008 10:04:48 PM

Sunday, June 08, 2008 10:04:48 PM

Post# of 43835
CJ, I thought that a megaphone is a bearish pattern. What exactly does that mean for gold now that it's dropped out of the megaphone trendlines? I'm not sure I fully understand the Gold to Oil ratio. Aren't they both suppose to move in the same direction which is up as the USD drops? Strange that Gold isn't really moving up as the USD drops and OIL spikes. Does this mean gold is going to drop further? Daily charts shows $GOLD being repelled by the 50dma. I guess we'll see in the next few days if it can break through.

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