Monday, October 3, 2011

Xau/Usd : 1726 resistance level

Since the last update price has continued to rally as expected. The rally is corrective and could end around 1726$. At this level we find the 50% fibonacci retracement level from the 1920$ - 1532$ decline and this is where there would be 2 equal legs from the bottom. The alternative is that price is in a triangle wave B.

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