Monday, February 18, 2013

Gold


  •  based on AB advance.
  • AC = 1/2AB
  • harmonic support during AB was at 'ab' which is the 1:8 harmonic. bF = aY = 1/8AB (blue stars)
  • major support at XG (broken) 1:4 harmonic  (GF = 1/4 AB) (red star)
  • resistance at BH (90* to Square AB diagonal (2BD))
  • next support @ H (1500)  resistance @ G (2000) 
  • diagonal support at YH
  • the break of DG suggests lower prices--perhaps to YH-- unless there is a return above BH in the immediate future


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