Richard Russell chart

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AL2

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Richard Russell chart

posted on Jan 04, 2011 09:48PM

Gold below. The chart will remain bullish as long as gold holds above the 1360 box. Below 1360, and gold will enter a deep correction.

I show below a daily chart of the Dollar Index (the dollar pitted against six major currencies). The Dollar Index looks bearish, and as of last Friday the Index (which is below its 200-day moving average) broke below its 50 day moving average. What can I say but that it's bearish action.

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