Re yesterday mornings post we saw the market hold at the levels suggested which was approx 1100$/oz...an important Phyc level
The reaction line worked a treat as did the multiple Fib levels but i did not take a position. I would have been interested had price come down to touch the Aqua LMLP but that was around 1096.00 but to buy on a phyc level of 1100.00 with just fib & a reaction line evidence is not sufficiant ....however the market wave formation now suggests that price will rally today (Friday 12 Mch 2010) and touch/pass through the down sloping green UMLP. More importantly as price never reached the green centre line Dr A's ML law's suggest that price will break higher ( unless we get a further touch on the UMLP and fall back towards the centre line).
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