A trend line is generally accepted be a trend line when it makes at least three touches. You can see DKNG has longer upward sloping support, and a succession of lower highs forming compression in price. 44 also seems to get a lot of attention. Price dropped below 44, touched the lower upward sloping trendline, and is now back above the 44 area. I read, when you...
From the 2015 lows to the 2020 highs, gold traded a .38, but never did trade a full 50% retracement. Then looking at the 2020 highs to the recent lows, it traded a 50% retracement. It just so happens, the 1.23 downside target aligns with the longer term 50% retracement in the 1600 area. This would certainly frustrate bullish folks and setup for a rally.
