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10/27/2009 2:53:00 PM
Just a Correction in Gold...or More?

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Gold was sharply lower on Monday as the strength in the dollar was a reason for some to sell. As pointed out by veteran gold analyst Ian McAvity in this recent interview, they do not have to have an inverse relationship. Technically, it still looks good as the OBV did confirm the recent highs, so this should be a pullback in the uptrend.

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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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