A Double Bottom for Gold?
Source: Minyanville, Lance Lewis (4/20/09)
". . .odds are that the metal has double bottomed on the charts. . ."
In light of that capitulation, odds are that the metal has double bottomed on the charts if this downtrend is taken out sometime over the next few days. If so, then odds are that the correction since the February peak is now over, which sets up another near-term attempt at breaking out above $1,000.
The overall bearish sentiment that currently pervades the gold market is also very constructive for a rally.