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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 8935
Forum Topic:

Gold, Oil & Indices (Equity & Bond Indices)

Discuss Gold, Oil & Indices (Equity & Bond Indices)
 
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DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
May 19, 2011 21:47
current price 34.965
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
May 19, 2011 21:40
It shows a clear 5 wave pattern down on intra day charts. That suggests a correction back up which must not exceed 99.9% retracement. 50% about typical. Then another move down to lower lows.
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
May 19, 2011 21:35
38.2% at 38.89 and 50% at 40.92
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
May 19, 2011 21:32
Its certainly due, have you done the projections for that ? The first intial possibilty is 100% at 36.94 or 127% at 38.06 (futures). Could go a lot higher but have to take this in stages.
Qingyu
manchester, UK
Posts: 1763
13 years ago
May 19, 2011 21:05
imho, silver will have a b wave bounce from recent low.
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
May 19, 2011 20:48
but VIX closing below recent lows !
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
May 19, 2011 20:46
Sarah, bullish/bearish on what ?

NYSE internals have been completely flat lined today Risk appetite rather lacking at mo. Gold, oil, stocks, cadusd correlation chart betwixt and between !
bhglitter123
dubai, United Arab Emirates
Posts: 36
13 years ago
May 19, 2011 20:15
dave.. its beeen a roller coaster trading range day.. are you biased towards being bearish or bullish??
bhglitter123
dubai, United Arab Emirates
Posts: 36
13 years ago
May 19, 2011 20:13
Ashrafff... excellennt! I think the recent analysis is structured in a better way im glad that you took few of my comments into consideration that reflects your forward looking vision.. i loved the summary at the end of ur analysis!

thanks!
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
May 19, 2011 20:12
@rim. I was biased short gold from the 1529 high but now with sideways action in triangle formation its best to wait for close above/below the triangle. 1416 would be my downside target or 1538 upside for first beer stops or reversals. Current price futures at 1492.8.
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