Tuesday, April 7, 2009

Gold Chart & Comments

First Published: Thursday, March 12, 2009, 9:09:03 AM

By Joshua E. Stone

The chart to the left illustrates the consolidation taking place between the major monthly fib lines.
The 23.6% is now serving as res, and the 38.2 is now support.
My personal bias is we can see more consolidation and perhaps an attempt at lower prices than the 38.2% level over the coming months. That said most agree it’s on its way up over the next 4-5 yrs; so this is an ideal entry area for those who can do it.
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1 comment:

Anonymous said...

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March 1, 2011 at 11:51 AM

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