yeah to me the dollar is still weak, so the 4th wave
consolidation is still going on, I could see the dollar going a
little lower still before trying to bounce, so that could give gold
and GDX some more boost to the upside and thus hit that 61.8%
Fib.
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matt
GDX
Posted by macnsc on 6th of Jan 2010 at 11:36 am
I'm waiting for it to top at about 51 and pull back to 47.50
the dollar keeps hitting 78 and then pulling back but it isn't that weak.
now that the HS is playing out on gdx what do you think short term...
yeah to me the dollar
Posted by matt on 6th of Jan 2010 at 11:42 am
yeah to me the dollar is still weak, so the 4th wave consolidation is still going on, I could see the dollar going a little lower still before trying to bounce, so that could give gold and GDX some more boost to the upside and thus hit that 61.8% Fib.