Bookkeeping: Cutting Back Powershares DB Gold Double Long (DGP) As it Retests All Time Highs
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We have a classic technical setup in the gold chart (I am using the gold ETF since the commodity has a 1 day delay in the charting software) - gold has retraced to come within smelling distance of all time highs. From here you either get a double top formation or a breakout.* Generally in a slower moving chart such as this, the stock/commodity will not break through on the first try, but we'll see how it goes.
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