Sunday, November 28, 2010
The fall seasonal rally last year (09) started in Sept (2nd) and peaked in early December (3rd), about 3 months. The rally this year started in August (July 29th reverses the downtrend), one month earlier than last year. If it were to rally the same duration as last year, it would take it to the end of October. But it continued rising another week and a half to a peak of $1424 on November 9th.
Fund managers may have sold and taken profits for the year already. They may see that the current rally started one month earlier and may be ending a bit earlier than last years Dec 3rd peak...?
Labels: gold 2010 head and shoulders