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Current market conditions and gold prices suggest the metal is about to breakout, says one former Bear Stearns analyst.
“[I]t looks to me like it could now get really exciting for gold bulls,” Jesse Felder, publisher of the Felder Report investment newsletter, said in a report released Thursday.
“On the weekly chart there is now a clear head and shoulders bottom pattern in play. A break above the neckline would confirm the pattern and project an eventual target near $1,650.”
