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发表于 2010-10-5 10:27 AM
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本帖最后由 revolver 于 2010-10-5 12:29 编辑
回复 276# colderdown
Technical - Long term trend up, but mid term (weekly) & short term (daily) overbought. 5 waves up have completed from October 2008 bottom, after just 24 months. 3 waves down expected.
Macro - gold will eventually be restored as world reserve currency, but not before people completely lose trust on governments and fiat. Gold has rallied recently because US has threatened to print money and start the currency war. This is a tactical game of one stone two birds for the short term, to stimulate the stock market before November election and also to force China and other countries to agree on the exchange rates set by US. The game will be soon over once the election period is passed and after all countries compromise on the exchange rate issue. And then a fierce correction will kick in. So now it's still a foreplay for grand gold rally, but not the real climax. |
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