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Monday, November 19, 2012

gold and copper



$GOLD: comex gold nearby one good sup area (psychological too) is $1700. it seems here may try to make its 2nd shoulder, if so then it will become a inverse H&S and confirmation to get after
settling above neck line (ascending green line on chart), nearby days it may $1746/48 ($1750)or
may higher area if take longer time.

So, for mid to long term view is to long gold on dips with stop below $1700.





$COPPER: comex copper hold its sup area of 340c here for a longer time and seems may going to
form a rounded bottom here where nearby res will be 355c area.
RSI indicator also suggesting of building here on 340c.

So, for midterm view is to long hg at dips with stop below 340c.