Thursday, January 05, 2006

Gold & Silver 1 hour charts

Nothing goes straight up, so are gold and silver. Silver was leading to the upside (rallied 100 cents with no corrections) and now leading to the downside, already touched its 50% Fibonacci retracement line. Gold did not pull back much like silver and shouldn’t go much lower then the 38.2 Fibonacci retracement line( if any). You can use this opportunity to add more positions.

Click on the charts below to enlarge:

silver chart
gold spot price

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