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Gold Resumes Strong Multi-Timeframe Bullish Trend

Gold (a daily chart of which is shown) as of Thursday (3/31/2011) has resumed its bullish trend that is currently prevailing on a short-term, medium-term, as well as long-term timeframe. After reaching a new all-time high just above 1447 one week ago and then pulling back to a bullish support trendline extending back to the significant late January 1308 low, price action has just surged to the upside. For more gold technical analysis, please click here.

James Chen, CTA, CMT