Yes, it is the Gold price so far. And gold has not completed a retracement on the current huge run up (which amounts to confirming a consolidation) since the low of $315.50 odd on the 27/11/02 which was a 61.8% retracement almost to the cent in itself.
So I spent last night working on the chart (HUI and stuff is no use for this).
imo the figure you should be looking for is $343.65.
Makes yesterdays suckers rally in several of the gold stocks pretty interesting doesn't it. I thought it was especially interesting in light of LHG's close but what would I know.
I have previously posted retracement figures for OXR and CRS and do not believe they represent good bying until they revisit these but the above figure (presuming I am correct) suggests how we might get back to them.
Best of luck all.
ps feel free to jot that figure down. It aint getting posted again. Mind you, only $7 to go....
