The price of gold bounced off the 1×2 Gann angle and should bounce back to a 50% retrace around 850 if price moves in a normal manner.
The West Texas Intermediate Crude (WTIC) chart has broken through the 1×2 angle and the 50% price line. A bounce often happens at the 5/8 line. This should only be a bounce and then continue down. The bounce could move back to 50% of the move down.
Charts courtesy of Stockcharts.com
Tags: Energy · Gold2 Comments
2 responses so far ↓
I don’t know about every one else but we need to get rid of Jack Bernousion(sp?) off of Squawk Box. I’ll bet you a cheeseburger??? Man the dude needs to retire and leave Mr. Magoo(Steve) alone. Poor Steve, Joe is after him again…..and the story goes on and on…..Happy Halloween to everyone, today will be very interesting**** the last day of the month, should we all get our Yo-Yo’s out or dagger’s??? Should be a BOO! of a day!
That is a the good part of having a day job… I rarely get to watch CNBC. A lot of Halloween and Cub Scout activities at my household this week and I haven’t had much of a chance to watch the market at all. Let me know if they break me….
Off to work now to save the world…