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10/19/2009 9:57:00 AM
Gold’s Next Targets at $1130-$1186

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Gold made new highs last week but closed below the best levels. Our first target at $1053-$1063 has been reached and the next target is at $1130-$1186. These were derived using Fibonacci analysis as discussed in our January 2009 Trading Lessons article. There are further targets at $1252. The OBV is strong and pointing higher.
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Tom Aspray, professional trader and analyst, serves as video content editor for MoneyShow.com Video Network. He was originally trained as a biochemist but began using his computer expertise to analyze the financial markets in the early 1980s. Mr. Aspray has written widely on technical analysis and has given over 60 presentations around the world. Many of the technical indicators that Mr. Aspray wrote about in the 1980s, such as the MACD, have since gained worldwide acceptance.

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