Gold Glide... now the Slide?
Mar 22, 2008
As we all know, gold prices have had a major bull run from 2000-08. The pattern formed by this move is sometimes called a glide.
But after hitting a high of $1030, gold had a drastic 10% drop in a week.
So where is Gold going forward?
Using Gold's bull run from 2000-08 to establish the high and low points for fibonacci levels, we find that:
a 38% drop takles gold futures back to $881.40
a 50% level takes gold to $835.78
a 62% decline takes gold to $790.16,
Watch the video here
