Sunday, February 17, 2013

Fitzpatrick & Greyerz - Fantastic Gold Chart & Commentary

"...Along the same lines, this came in from top Citi analyst Tom Fitzpatrick: “We believe we have just reached the ideal pivot for gold to form a base and move higher as it did after the 16 month consolidation in 2006-2007.

Fitzpatrick just recommended clients get long gold at these levels, “... with a minimum (price) target of $2,055-$2,060.” He also advised using a stop for this trade. 
Fitzpatrick added: “We expect gold to move significantly higher in the months ahead.”
Here is the big picture, 10-year chart Fitzpatrick provided:.."

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