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Bloomberg reported yesterday that “Gold Bulls Were The Strongest in 9 Months” Included in the Bullish camp were John Paulson and George Soros.
Yesterday Gold & Silver closed against falling resistance lines at (1) above, while forming a potential descending triangle pattern over the past year. These patterns often lead to lower prices.
Let the great duel between the Gold Bulls and the Patterns begin, as a breakout would be very good for these products and a failure to break resistance would be painful to the bulls!
