Friday, June 17, 2005

Gold Boxes

The hourly chart above shows my estimate of the short term price boxes in August gold. These are $13.70 high and start from the recent low at 415.80.

As you can see the market is approaching the top of its second box. Right now support is at the ½ division of this box, 436, and the next stop on the upside will be the ½ division point of the next box at 450.

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