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Re: Name one gold or silver stock that is resisting the carnage
posted on
Mar 02, 2009 09:17AM
Player wrote >>>930 and 12.80 have held up well....i do see 900 gold as a possibility though....<<<
Regarding the uninterrupted move up from 801.50 in January, the 38.2% Fib retracement is 930; the 50% retracement is 906. The reason why we keep bouncing (3 times) off of 930 is that every institutional trader knows this. If we test 906, we should see similar strong support. The line in the proverbial sand would be 882ish, the 61.8% Fib.
