July 29th, 2010
Published Daily

GCQ09 – Comex August Gold (Last:938.50)

by Rick Ackerman on July 29, 2009 12:21 am GMT

Yesterday’s low fell a tick above the 50% retracement line relative to the July 13 bottom, but if the futures were to go still lower today they’d hit a theoretical support at 927.50 that equates to a 0.618 retracement. These numbers will probably serve as well as any Hidden Pivot that I can identify (one of which caught yesterday’s low fairly closely — i.e., within less than 1.00 point).

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