Tuesday, April 5, 2011

Gold - Regression and Retracement

A quick chart of gold to try guessing were we are going. 



Click for a larger picture

The parallel lines are a regression channel using a standard deviation of 1. The Fibonacci retracement originates at the lows of last August and retraces from the highs of December to the lows of January. All the retracement lines have acted as resistance and support since then. The regression channel and Fibonacci lines all point out to a 1447 resistance line that has held since early March.

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