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3,367 Posts.
141
27/08/11
09:57
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nice chart, Debono. That hammer bounced right off the 50% fib.
You can bet there was massive long liquidation by the speculators on that day as well (comex).
The commercials/bankers covered another 18,000 short contracts in this weekend's COT report, and that's before the plunge on Wednesday/Thursday.
There's no way we go below $1707 now, the 50% fib was the support and we go higher, imo.
Rowingboat
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