Monday, November 7, 2011

Euro Gold within 70 euros of its all time high

Gold when priced in terms of the Euro is showing great strength continuing to track higher ever since it found buying support at the 61.8% Fibonacci Retracement level shown on the chart.

It has now managed to push through the last Fibonacci level of note and based on the norm for most TA, it should now make a push back to retest the recent all time high, which is a mere 70 Euros above its current levels.

It is very evident, that many European investors and average citizens are very far from being comfortable with the so-called "solution" that has been hobbled together by the European monetary and political leaders to handle the fallout from the sovereign debt woes currently besetting the EU.

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2 comments:

  1. boatmanNovember 7, 2011 at 4:10 PM

    Dan, my home page man......you are a gentlemen and a scholar, sir......and i salute you.

    ReplyDelete
  2. SaulNovember 7, 2011 at 9:50 PM

    What he said. Thanks, mate!

    ReplyDelete

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