Tuesday, August 12, 2008

10:02 AM PDST

Gold moves lower in the half hour before the day session close approaching the bottom line of the down flag...reaching 81330... below the 75% retrace point at 81490. Because gold didn't manage to move up further, the profit takers moved in to keep their loot. Gold is now moving up from this sell off on very strong volume of more than 1,000 contracts/minute. This is perfectly normal trading behavior.

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