One more update to the above for those interested in Fib.
The 50% retracement was/is $252.50 which not coincidentally was the open price this morning. Its broken and gone now as I had suspected we may have a suckers rally from that level (as did I suspect the insto's who were buying back in yesterday.)
No such luck by the looks of it.
Therefore the run to $343.65 might complete quite fast.
Were that level to break and because of its significance I would suspect a revisit of $315 would then be certain but I the odds are against this occuring.
Far more likely an acceleration in the tanking of the markets and a flight to pm.
It still needs one more shock for some of the golds to complete retracements.
Others such as HIG have already done that and 31c is the 61.8% retrace there.
gold technicals, page-6
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