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Daily Digger - Monday Feb. 7, '05


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Feargreed Dude...

"The XAU reached Fibonacci Cluster Support at the 90.50 level, in fact spiking to 89.82, before closing Friday at 91.09.

 

A bottom at this level is now likely. A bullish Weekly Squat was recorded. However, it will take a weekly close over 91.20 to project higher prices.

 

Additionally, a triple bullish momentum is on the verge of occurring, with a Daily close over 91.40 on Feb 7.

 

Our VDI has already registered multi-week bullish divergences.

 

Initially, this should NOT be a run-a-way market to the upside. That is, until the Dollar resumes its long term decline. A modest decline should begin shortly, but a longer term decline is about two months away."

http://www.feargreed.com/

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