gold technicals

  1. 10,543 Posts.
    lightbulb Created with Sketch. 3
    ..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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