Gold Mining Soars

12/17/2008 9:59 am EST

Focus: COMMODITIES

Thomas Aspray

, Professional Trader & Analyst

chart

The S&P gold mining group formed a nice short-term bottom at the November 20th lows, and has rallied sharply over the past three weeks, up almost 90% from the lows. The RS turned positive a day off the lows and is rising sharply. Now approaching first resistance at 100-105, with the downtrend at 115.

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