4p ET Sunday, August 9, 2009
Dear Friend of GATA and Gold:
For those who still follow technical analysis in markets as heavily manipulated and intervened in as gold, Clive Maund's is pretty good. Maund's new "Gold Market Update" concludes:
"So how do we reconcile the seemingly very bullish chart pattern for gold with the seemingly bearish commitment-of-traders data? While recognising that gold could climb in the face of large spec long and commercial short positions rising to even greater extremes, a more likely scenario is that Big Money is preparing an ambush -- a sharp reversal to the downside to shake the little guy out and scoop up his gold and precious metals stocks at knockdown prices before prices reverse again to the upside and then the breakout to new highs occurs."
You can find Maund's analysis at GoldSeek here:
http://news.goldseek.com/CliveMaund/1249844182.php [1]
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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