Gold’s Monthly OBV Is Positive

12/23/2009 12:01 am EST

Focus: COMMODITIES

Thomas Aspray

, Professional Trader & Analyst

chart
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Despite the recent sharp drop in gold, the long-term outlook remains positive as the monthly and weekly OBV did confirm the recent highs. A lower monthly close (below 1181) looks likely, and I would expect a complex corrective pattern before the uptrend can resume. Click here to review the key Fibonacci support levels.

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