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Gold Market Update
GOLD - Breakout Confirmed!

Clive Maund
17 November, 2004

With this afternoon's sharp move above $440 we can now be reasonably sure that we are on our way. This is a sufficient margin above $430 to confirm that the breakout is in all probability genuine.

Silver is close to breaking above its top channel line too, which will be an important development.

Those Elliott wavers who were bearish on gold can now go ahead and burn their chart folders.

Clive Maund

Clive Maund is an English technical analyst, holding a diploma from the Society of Technical Analysts, Cambridge and living in southern Bavaria, Germany.

Visit his subscription website at clivemaund.com.[You can subscribe here].

No responsibility can be accepted for losses that may result as a consequence of trading on the basis of this analysis.

Copyright © 2003-2004 CliveMaund. All Rights Reserved.

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