Category Archives: Gold Futures

$GC_F 1 year, daily chart. Open gap closed, support level held.

By | Gold Futures | No Comments

On Friday, September 23rd, 2011 the gold futures contract experienced a $126 swing and in the process broke through a Fibonacci support level at 1698.1, closed an open daily gap at 1665.8 and hit a second Fibonacci support level of 1646.2. The session low was 1631.7 but price closed above 61.8% support level of 1646.2 leaving the uptrend in tact and a target of 2021.6 still valid.

Click here for a chart of  silver related to this post.

Now I will wait to see if buyers step into gold and will then double my silver bullion holdings.

If you have any questions, [email protected]

Thx,

dave

$GC_F Second support of 1626.2 holds