Dennis Gartman: Short term top for goldPublished: March 04, 2008 by GoldSpeculator Dennis Gartman On Gold - Seeking Alpha
Gartman is calling a short-term top in the gold market which may hit $1000 and then ease off. I believe some consolidation is in order as well. A technical study will show that some caution needs to be taken at the current moment in regards to gold. For the short-term outlook, the odds of a correction outweigh the possibility that gold will power higher through $1000. It's going to take a lot of energy to break through $1000 and it needs to build up potential by consolidating and basing, or by correcting down to it's 200MA.  This analysis should also be taken in light of the fact that we may see a bear-market rally in the Dollar as I had opined on here: McDonald's commercial about falling dollar... Continued below in another post is a brief look at the USDollar Index technicals.
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