PGOLD may hit 50 level soon

PGOLD‘s retrace last December that brought the price down to 36 was a 78.6% Fibonacci Retracement after the rally. Usually a retrace this low will be followed by a rally that may hit as high as 127.2% Fiboanacci Retracement level. This leads us to speculate that PGOLD may hit the 50 level soon. But before that, lets see how the bulls will carry the price to 47.5 per share.

We have also seen a strong bullish signal via the Tenkan Sen / Kijun Sen Cross where the blue line on our chart crosses the red line from below.



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A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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