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New gold chart with fib levels
This is a discussion on New gold chart with fib levels within the Metals forums, part of the Commodities category; I have noticed that gold has been in an upward trend since last October. Placing a Fib over the top ...
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Mar 27, 2009, 4:09am
| #1 |
| Junior Member Join Date: Jan 2009 Posts: 33
| New gold chart with fib levels
I have noticed that gold has been in an upward trend since last October. Placing a Fib over the top of this ralley shows that we are heading for the 23.6% line which is also where the triangle apex is. I think this would be a crucial breaking point, which ever way gold moves, into what price action we can expect from gold. The triangle patterns is a continuation pattern and with everyone expecting a higher move in gold (medium term) this could well be on the cards.
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Apr 1, 2009, 11:25am
| #2 |
| Rookie Join Date: Mar 2009 Location: Virginia Posts: 5
| Re: New gold chart with fib levels
thank you for the chart. so far this week we are still within the triangle. G-20 could give it the push for a break out to the upside, perhaps to new highs sometime next week. |
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