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Tuesday, March 23, 2010

Gold with US Dollar Stripped Out

Here is a chart of Gold without US dollar (divide by inverse of US dollar (UDN ETF)). This chart is on a sell signal with a range trading mode. The range trading mode is close to confirming a daily downtrend. A breather in the markets and a rallying US dollar could be the catalyst to take the wings off of the gold bugs. The charts not as bearish as the actual gold chart but its certainly not bullish.

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