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"Gold prices are still in a lengthy 'bottoming phase' and may have more work ­ technically speaking ­ before breaking through overhead resistance and moving substantially higher." - Jeffrey Nichols, American Precious Metals Advisors
"If the price rally continues, these traders will feel increasing pressure to unwind their shorts before their losses become catastrophic. This 'short squeeze,' as it is known in finance, will reverse the vicious cycle and could send gold dramatically higher than when the correction started." - Peter Schiff,
"The combination of the increase after a 90-day decline with the consolidation zone being in the same relative area paints a compelling technical picture of this bounce continuing higher." - David Goodboy, MSN Money
"We're almost at the exhaustion point. The price is running way below the associated volume. When price action is not accompanied by corresponding volume, it is a bullish sign." - Tim Kelly, founder and CEO of ForexTV
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