Sunday, October 23, 2011

There Will Be A 2nd EFSF Meeting on Wednesday

And will bring all 27 members back into the picture to finalize a response to the debt crisis.

EU leaders concluded on Sunday agreeing on plans to boost the firepower of the eurozone rescue fund - the European Financial Stability Facility (EFSF) - and backed plans to recapitalize banks who would be hit by a massive writedown of Greek debt.

Gold Day Chart:

Gold has been struggling to stay in an uptrend. It still is in an uptrend but it looks heavy to me. Last time I said that it rocketed higher and blew through resistance. I will be watching gold pattern closely this week and look for any confirmations of weakness.

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