Don't Ignore This Chart!

Randgold Forges a Double Top Breakout on P&F Chart

Gold stocks remain down in the dumps and in long-term downtrends, but signs of short-term strength are emerging. Randgold (GOLD) formed a higher low in May and the current X-Column broke above the prior X-Column to forge a P&F breakout. This breakout, however, is still below the Bearish Resistance Line that extends down from October.

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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