Gold Weekly Nov. 13, 2009

On the weekly chart of the continuous Gold future I'm showing 2 new things.

• The new Fibonacci levels are drawn from the lows of 2000 to the highs of 2006, and show that price reached the 123.6% level in 2007 and the 161.8% level early 2008. A logical next target here would be the 200% level at 1229.
• The arrows show the targets after breaking above the blue symmetrical triangle - the green one represents the conservative target (size between top & bottom) and the red one the more aggressive which is calculated by measuring the distance between the upper and lower line of the triangle at the base. The first one has been reached to the tick.