re: now citigroup likes gold
0105 GMT [Dow Jones] Gold, at $451.20/oz, may be starting upmove targeting at least $600, possibly $700 in 1- to 2-year timeframe, based on technical analysis, writes Citigroup. Says daily close above recent high at $449.30 would suggest retest of trend high at $456.75; says monthly charts show very compelling picture with gold trying to break out of consolidation pattern in place for last 23 years; says rise above major resistance just over $441, rising 55-month moving average crossing above rising 200-month average suggest real danger of impulsive upmove. (RNH)
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