GOLD topped EXACTLY where expected and is pulling back bigly
Updated
Golden topped EXACTLY where expected and pulling back bigly.
Retrace should bounce a little bit at some of the next supports.
Bulls need some speed brakes for drop that could go very DEEP.
$2568.54 is first chance for a bounce, maybe even a big one
$2549-2552 is a minor support that needs to slow the drop.
$2525-2518 is Semi-Major support that could be bottom.
$2344-2455 is the DO-NOT-TOUCH support
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Previous Analysis that nailed the top:
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Retrace should bounce a little bit at some of the next supports.
Bulls need some speed brakes for drop that could go very DEEP.
$2568.54 is first chance for a bounce, maybe even a big one
$2549-2552 is a minor support that needs to slow the drop.
$2525-2518 is Semi-Major support that could be bottom.
$2344-2455 is the DO-NOT-TOUCH support
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Previous Analysis that nailed the top:
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Trade active
DOING
Decent bounce helped by the "Minor Support".
(yellow shaded area is from posting time).
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Admittedly, I was off by a bit:
I had the red 4.236 (the most common wave ender).
But it turned out to be next fib ratio, 4.854 bouncer.
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Looking ahead:
$2618.94 is a proven resistance fib, likely to break.
$2643-2650 will be strong resistance, likely cause a dip.
$2568.54 is best guess for a "retest" of the low if bottom.
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