Gold Overbought and Ready to Correct

Dow Theory Letters, Richard's Remarks (05/18/2009)
"June gold has now advanced 9 out of 11 trading sessions, which makes gold overbought and ready to correct. Gold is now working on the right shoulder of a huge inverted "head-and-shoulders" (bottoming) pattern. The next upside target for June gold is $960. If June gold can close above $960, that would be a huge technical achievement and should send gold higher to test the $1,003 level."

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