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Daily Digger Tuesday 11/16/04


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XAU:

 

Still watching the short term charts. The pattern, in my estimation, is near terminal.

 

We are still in a 5th of a fifth on a micro level.

 

Today's action did not signal that a top is in. While XAU's price high today exceeded Friday's, it did not for HUI or NEM.

 

Thus, unless there's to be rare truncated 5th's it looks like this micro 5th will be an ending diagonal that could last a few days more.

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