Wednesday, May 14, 2008

Metals: Strong Golden Bear


A
ll what changed are:
1- Gold tested neck line already, which was the upper downtrend channel line, this was a confirmation for the down direction.
2- A line was added "Trading line", the pink one, this is the line it tests always for medium term trading.
3- We have now 2 points to care about, 844 "last bottom" and 834.50 "50%" Fibonacci level.
Same points targeted and keep an eye for breaking above the down channel for stopping loss.