When the facts change I change my mind, what do you do sir
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Gold Breaks out of Consolidation for Bullish Continuation
Consolidation, breakout: Gold has had a week-long consolidation between roughly 1267 and 1300. There were 3-4 attempts that failed to clear 1300, and basically 2 attempts that failed to push below 1267. Note that the swing going into this consolidation was a bullish one. As we start the week during the 7/22 Asian session, the gold-bulls won the battle and pushed xau/usd above 1300, signaling bullish continuation in the short-term, against the medium term bearish trend that’s been developing since Oct. 2012. Moving averages, RSI: The breakout pushed gold above the 200-4H-SMA for the first time the beginning of ... (full story)
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When the facts change I change my mind, what do you do sir