Updated Fibonacci Video on Gold and Crude Oil

Aug 4, 2009: 1:17 PM CST

Adam Hewison released a 4-minute free update video on the Gold and Crude Oil markets, and notes that both markets pivoted at the 61.8% Fibonacci level on the recent downswing into ‘thin air.’

Entitled “Fibonacci Analysis of Crude Oil and Gold,” Adam zooms in on the current move on both markets’ daily chart to note a Fibonacci grid drawn from the July lows to the July highs, and notes that in both cases, the 61.8% Fiboancci price contained the sudden pullback just prior to the equally sudden and surprising rallies.

I admit that, as closely as I follow these markets, I missed drawing this grid and had decided the markets reversed unexpectedly in “thin air,” so I was glad to see Adam’s perspective which highlighted how it was possible to anticipate this turn and not be as caught off guard (as I was!).

In introducing the video, Adam writes, “The mathematical findings by this thirteenth century Italian man has yielded a useful tool which is used in technical analysis and by scientists in a large array of fields.

In our new short video, I will look at gold and also the crude oil market using MarketClub’s Fibonacci tool. I think you will be surprised and shocked at just how accurate and up-to-date this mathematician’s work is in today’s markets.”

Adam releases these and other up to date frequent update videos to members of Market Club (click for more information), who also are able to scan for “Trade Triangle” signals and use other facets of their unique charting software including “talking charts” and composite technical scores (as seen on the left side of the chart).

As an updated disclosure, I am a commissioned affiliate of the Market Club.

Corey Rosenbloom, CMT

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