Gold: Monthly OBV Still Positive

07/03/2009 12:01 am EST

Focus: STRATEGIES

Thomas Aspray

, Professional Trader & Analyst

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The gold futures closed lower for the month, but the trend in the OBV is still clearly positive, having made new all-time highs in February and confirming prices. Therefore, after the current correction, gold should make further new highs. Only a break of OBV support at the 2008 lows would change this view.

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