Gold could easily test the 1050 price zone

Fibonacci Retracement levels for gold
Gold 3-Year Weekly Chart with Fibonacci Retracements

Gold 3-Year Weekly Chart

Reference the last chart analysis for gold showing The break below major support at 1200 which is now a major resistance point. the reversal of roles is an important concept in technical analysis.


“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

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