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Upside Acceleration in Gold


Wednesday September 17th, 2008
Upside Acceleration in Gold
by Mike Paulenoff www.MPTrader.com
Upside Acceleration in Gold
By Mike Paulenoff, www.MPTrader.com

The big picture in the SPDR Gold Shares (NYSE: GLD) shows today's powerful upside acceleration from 77.00 to 82.00 amidst very strong and confirming underlying daily momentum RSI readings. The pattern, momentum, and pervasive fear that the US banking system has been compromised is fueling the run into gold and gold stocks, at least for now. My next optimal target zone in the GLD is 83.50-84.50.

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