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Is gold getting ready to rally again?
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ticker lesson
Breakdown
0:00Gold· ticker
Gold — up 4.5%, closed above 4,000
- Gold up 4.5% since last week
- Closed above 4,000 on spot and one-mon futures
- Still in downtrend
- Chart looks bearish
- Surprised gold closed above 4,000
1:51Gold· ticker
Gold — parallel channel break
- Broke above second parallel channel
- Nice bar on Friday using upper rail as support
- Likely to be up next week
1:52PHYS· ticker
PHYS — up 4.7% for the week
- PHYS up 4.7% for the week
- Physical bullion fund via stock market
- Buy more as it gets cheaper
- Buy around 15, 35, 50% levels
1:53PHYS· ticker
PHYS — correlated with gold
- Bias for PHYS up next week
- If gold goes up, PHYS should as well
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