GOLDTRADER'S GROUP
Daily commentary on GOLD TRADING as it occurs real-time in New York on the Comex Exchange.
Tuesday, May 5, 2009
A FEW BUYERS MOVE IN WHERE THE 75% RETRACE POINT AT 9098 COINCIDES WITH THE WHITE TOP LINE OF THE PREVIOUS DOWN FLAG, AN AREA OF POTENTIAL SUPPORT
Gold meets resistance near the top blue down
flag line and falls back, a 50% retracement of the
last down leg
But I don't think any rally will last. Right now
the volume is very light to the upside
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