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Have a Merry Christmas and Happy New Year

But in looking at the gold market, let me give you the basics, because that's what this is about: when you're over the 18-day moving average of closes. 

You look at the 18-day averages, your line in the sand, The number itself is neutral when you're over, you have a bullish bias and that's a filter that if you get other buy signals, you want to go with them. I teach traders that when you're over the 18-day average, you get a sell signal; it's one thing to come out of a long position. It's a very different thing to go short and I wouldn't recommend that. 

When we take a look at what's happened, we've had a 50% bounce. What do I mean? You got up to the $2150 area, you fell back here into $1990 and you've come back into the $2070 - $2060 area. You're about a 50% bounce in the market, as the market got overdone on the downside and now it's looking for its footing. The footing's been found temporarily, you're in an uptrend. 

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