Tuesday, May 08, 2007

Gold Charts

Technically there is not much change… The uptrend on the daily chart is intact.

COMEX June gold (GCM7) daily chart- the price is still between the 50 %( 672.50$) and the 61.8 %( 695.8$) Fibonacci levels.

COMEX gold

CBOT June gold (ZGM7) intraday (120 minutes) chart – the price recently bottomed at 670.1$ and again at 684.1$ today. Bottom to top and top to bottom short term Fibonacci levels are added.

CBOT gold


troy said...

Note: FOMC policy statement Tomorrow at 14:15 ET .

Anonymous said...

Well, Gold so far is near yesterday's low... I posted a note on Tony's website yesterday that I feel if equity market don't move up, maybe gold will not follow through the upside yet... What's your thought?


troy said...

Frank, I guess that if we have enough patience the market will always answer our questions.

When in doubt stay out.

Don’t fight the FED.

Don't bet the farm.



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