Saturday, January 22, 2011

$XAUUSD 4hr Chart

$XAUUSD now at fib 127.2 extension which equates to the VIDYA on the daily chart. Since it's below the daily Kumo I would expect any rallies to be capped around 1370. Next fib support below is around 1327 near the major harmonic of 1320. Trend is still down and Chinkou span is below the price curve.

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