Let’s take a look as I move around here to gold. One of the things I’ve been telling you is, I think gold is fighting a major battle right here, at the 18-week moving average of closes – this is a close-only chart. You tell me what you see. I mean it’s right there, it’s been there doing it all week long.
Gold did pick up today and go to higher lows and a higher high—that part’s bullish. The market’s over the 18-day, average of closes, so I would expect to see the pros try to get long $2652 area. I don’t think they want to see it get under the $2624-50 area, that would be a problem for them. And if it picks up, I wouldn’t look for an awful lot right here. I’d be looking for no more than maybe the $2700 zone, which is about where the Bollinger Band is tonight – got it? So I think you’re going to churn a bit. And overall I think the Bollinger Bands are going to narrow in, and you’re going to be fighting a battle right here against that 18-day moving average of closes.
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