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
.
Previous Analysis that nailed the top:
==================================================================
.
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
.
Previous Analysis that nailed the top:
==================================================================
.
Trade active
DOINGDecent bounce helped by the "Minor Support".
(yellow shaded area is from posting time).
.
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.
.
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.
==================================================================
.
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.