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Gold testing Fibo resistance

By   || March 2, 2010 at 17:05 GMT
|| 1 comment || Add comment

As noted earlier, the 50% retracement of the $1225/1044 decline comes in at the $1134.75 level. The high so far? $1135.30. A close above would be quite bullish and could be a sign that the dollar rebound is losing steam. Maybe. If old correlations hold up…. A big if, in a brave new world of sovereign debt crisis…

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One Response to “Gold testing Fibo resistance”

  1. Trading Nymph on March 2nd, 2010 17:17 GMT

    Jamie, You know I always like to look for patterns…..do you know it seems to be that Gold is always up leading into the ECB every month, well at least since I have been watching for a possible connection for about six months now…fwiw.

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