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Sunday, February 17, 2013 1:00:41 PM
CITI: Gold Has Fallen To A Pivot Point, Minimum Price Target Now $2,055
Sam Ro|Feb. 16, 2013, 6:44 AM
Gold fellow below $1,600 on Friday. This is a six-month low.
According to Citi technician Tom Fitzpatrick, this is exactly where you want it to be if you're a gold bull.
Eric King of King World News has a clip from Fitzpatrick's latest note.
“We believe we have just reached the ideal pivot for gold to form a base and move higher as it did after the 16 month consolidation in 2006-2007," wrote Fitzpatrick who now has a “...a minimum (price) target of $2,055-$2,060.”
Read more: http://www.businessinsider.com/citi-gold-pivot-point-min-price-2055-2013-2#ixzz2LBFlRz1n
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