Iomega Corporation

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Tuesday, December 19, 2006

Gold Update

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Gold looks to have completed its Consolidation period, where last week we had Consolidation moving along, and it was advisable to be on the sides, However, we have seen a big Triangle being developing, And Our Target for end of the month is 655-665 levels, which is likely to be hit, as the momentum is gradually increasing, with new Money flow is Pushing in the market.
Technically Precious Metals is ready for a big rise, as Crude Oil is moving higher with Inventories to come out today (Tuesday).
A Solid Movement Appearing on the table for Gold and Silver.
It appears this rally shall kill the 650 resistance and Push higher towards 660 zones.
As Christmas comes to near, a Rally is Expected in a Short tone, though a gradual Increase is in Hands.
615-619 level hold as a nice support.

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