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11-07-2007, 03:24 AM
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Greenback Is Staring Down The Barrel
GOLD:A bullish channel was established on the 4 Hour chart and a breakout took place which caused the Gold to strengthen to 845.28. Currently, the slow stochastic and RSI indicators are clearly on overbought territory and Forex traders should anticipate a reversal. There is still room for the Gold to strengthen before any such reversal takes place.
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