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Commodity Trading Discussion Forum

Re: Gold Market - Target of 800.0 and 733.0

Posted By: hugo
Date: Saturday, 3 May 2008, at 12:52 a.m.

In Response To: Gold Market - Target of 800.0 and 733.0 (USCoralSea)

Lots of things happening at the 730 level--

Fib retracement 38.2% of the entire 7 year move from 250 --$726.

May 06 top and longterm resistance at or near $728.

05-07 support line that crosses right near 730 for May.

My guess is that there will be lots of buyers jumping the gun so it might never get to the 730s, or will have a serious rally once it does.

hugo

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