gold technicals

  1. 10,605 Posts.
    lightbulb Created with Sketch. 26
    ..for those that are interested, LOL.

    Guess what else employs Fibonacci very closely?

    Yes, it is the Gold price so far. And gold has not completed a retracement on the current huge run up (which amounts to confirming a consolidation) since the low of $315.50 odd on the 27/11/02 which was a 61.8% retracement almost to the cent in itself.

    So I spent last night working on the chart (HUI and stuff is no use for this).

    imo the figure you should be looking for is $343.65.

    Makes yesterdays suckers rally in several of the gold stocks pretty interesting doesn't it. I thought it was especially interesting in light of LHG's close but what would I know.

    I have previously posted retracement figures for OXR and CRS and do not believe they represent good bying until they revisit these but the above figure (presuming I am correct) suggests how we might get back to them.

    Best of luck all.

    ps feel free to jot that figure down. It aint getting posted again. Mind you, only $7 to go....
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