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With all of the tea bag parties going on, I thought I would take a look at gold’s technical picture and see if it was tea time yet for gold. Cup and handle patterns are one of the most bullish set ups for technical analysts and can signal an explosive move to the upside. [...] They have a PR campaign trying to maintain this rally. You can use as many CAPS as you want and a 3% gain isn’t too newsworthy. JP Morgan will soon have their credit card exposure drag the stock much lower. And another powerful indicator — foreclosures — just rose to record levels. [...] |
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