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ASX All Ordinaries Gold

Published 10/01/2017, 11:19 am
Updated 09/07/2023, 08:32 pm

Originally published by Chamber of Merchants

The ASX All Ordinaries Gold may be up, but unless it breaks higher than the level drawn in the chart, we could be forming a double top. A double top usually indicates a reversal (also could indicate profit taking taking).

Chart

In the event that this is a double top, we could be presented with a short term correction in the Australian gold miners.

(Of course, if the US dollar tanks or if we have war or if there’s some disaster, gold could always ignore all technicals and skyrocket. In the absence of that, I refer to charts.)

Latest comments

Gold and Silver ARE manipulated by big Corporate banks via FED narrative. This is to ensure the USD does not lose its world position and the people don't lose trust in their currency.
Hlw
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