Monday, March 23, 2009

12:32PM PDST GOLD FALLS TO THE FIRST OF SEVERAL 75% RETRACE POINTS


Gold appears to be resolving the head & shoulders
pattern that has the head at 970. I didn't think that
the pattern would resolve because of the $60 spike
in the gold price last week. So far it really hasn't and
has only pulled back to the 75% retrace point of the
trading range near the top of the spike.