Whadda I Do Whadda I Do Posted July 31, 2003 Report Share Posted July 31, 2003 Author: Jim Sinclair There was a harmony & symmetry in gold that I have rarely witnessed before in a one day session. Yes, the forces that would be injured by higher price of the metal are attempting to do their work, but I believe this time their will be trashed. Yes, stabilization forces caused a break under the Fibonacci support line in the $361 to $361.50 level and gold found its way directly to the next Fibonacci support line that acted like a trampoline with gold closing $3 above the Fibonacci trampoline. Gold had formed an Island Head and Shoulders formation and fell almost to the penny of the measured move, then formed an Island Triangle formation indicating the potential that gold will rise above the first neckline. Resistance now is at $361 to $361.50. The dollar actually did the reverse. It was like a musical Broadway show with all the participants on stage doing just the right thing at just the right time. This market is, IMO (in my opinion), going over $400. Even TNX had a technically harmonious day by a break out-pull back-move away. The latter two occurred today. Charts and other stuff. Link to comment Share on other sites More sharing options...
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