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Wednesday, July 15, 2009
GOLD SPIKES TO THE 75% RETRACE POINT AT 938 IN OVERNIGHT TRADING AS DOLLAR SINKS TO .7974
Using the previous high at 949 to compute the fibs, the 75% retrace fib is at 938 as pointed out yesterday.
Using the high at 9921 to compute the fibs, the next major 75% retrace fib is at 97030
VERTICALWHITE LINES DESIGNATE THE START AT 5:20AM PDST OF THE DAY SESSION COMEX OPEN THE VERTICALBLUE LINES DESIGNATE THE 10:30AM PDST CLOSE OF THE COMEX DAY SESSION VERTICALGREEN LINE DESIGNATES MARKET OPENING AT 3:00PM PDST ON SUNDAY THE VERTICALRED LINE SHOWS WHERE WHERE COMEX GOLD CLOSES AT 2:15PM PDST COMEX REOPENS ON THE VERTICALORANGE LINE AT 3:00PM PDST VERTICALPINK LINES DESIGNATE MIDNIGHT PDST THE ORANGE HORIZONTAL LINES I USE TO SHOW WHERE PREVIOUS TOPS ARE WHERE GOLD WILL RUN UP TO AND STOP, PULL BACK, OR BREAK THROUGH... THE HORIZONTAL PALE BLUE LINE INDICATES YESTERDAY'S CLOSE PRICE THE HORIZONTAL GREEN LINE(S) INDICATE MY LONG POSITION(S) DAYS OF THE WEEK ARE LABELED AND THE DATES ARE AT THE BOTTOM OF THE CHART ALONG WITH TIMES OF EACH CANDLESTICK THE TIME PERIOD OF THE CHART IS IN THE TOP LEFT CORNER AND DESIGNATES THE LENGTH OF TIME EACH VERTICAL PRICE CANDLESTICK COVERS...