Thursday, December 01, 2005


Here is an hourly chart showing pit and electronic trading in February '06 gold which is now the front trading month.

I have transferred the price boxes from the December to the February contract and you seen them drawn in red on the chart.

I think gold will get to the top of its current box near 511, maybe a dollar or two higher, and then have a substantial reaction down into the 480-85 zone. The market is fast approaching my bull market targets and I think that the party in nearly over in gold.

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