Special Situations for SMART INVESTORS
GOLD: FOLLOW-UP NO 7
Why Gold?
The long-term picture
The long-term chart clearly shows that gold has moved into a solid up-trend which started in April 2001 and which does not show signs of weakness. In fact, the gold price is pushing towards the break-out at the resistance line around $ 325.
The medium-term picture
Medium-term, the gold price has gone through a consolidation since June which is normal in a long-term up-trend. The chart also clearly shows that the gold price is relentlessly pushing against the resistance zone around $ 325.
The short-term picture
Short-term, the gold price has been contained in a horizontal trading channel between $ 315 and $ 325. It is however pushing against the resistance zone at $ 325. It may take a few days, weeks or months to succeed, but eventually, the resistance zone will be overcome.
How to participate in the unfolding bull-market in gold
If you wish to receive our Follow-ups on above recommended gold shares, simply register at www.pzim.com.
Yours sincerely,
Peter Zihlmann
www.pzim.com
forex@pzim.com
December 6, 2002
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