I am watching this as well. A double bottom is very possible and will project a similar result as an inverse H&S.
“Those who can make you believe absurdities, can make you commit atrocities.” Voltaire
09 May 2012
Gold Daily and Silver Weekly Charts
The miners showed a positive divergence today.
If gold is going to set up an inverse H&S bottom it must hold support at 1570 although 1580 is preferable. Otherwise we will be looking for a double bottom.
Intraday commentary here.
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