Using Fibonacci Numbers as Static Resistance Zones for Gold
The major top and the start of a trending down-move was the Top at 1345$.
I took it and subtracted the Fibonacci numbers from it to find nearly exact Support/Resistance points.
The question is,
Will the 1201$ which is 1345 - 144 (A really important Fib Number ) provide resistance for the current rally? Or has the validity of the 1345$ top failed?
A couple of days might reveal the answer.
I took it and subtracted the Fibonacci numbers from it to find nearly exact Support/Resistance points.
The question is,
Will the 1201$ which is 1345 - 144 (A really important Fib Number ) provide resistance for the current rally? Or has the validity of the 1345$ top failed?
A couple of days might reveal the answer.
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