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CREGG
Member since October 2016
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A closer view of the long term gold support and resistance points - Bill Downey - Commodity Trader

I guess Gold Prices might go down a little more this year, but still hoping that prices of gold will rise up by next year!

Commented 2928 days ago

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Beginning of the headline :a closer view of the long term gold support and resistance points Instead of using a 200 day or week moving average, we use a Fibonacci 233 week moving average. Look how the moving average and the 2011 downtrend line together make this the biggest resistance to gold moving forward. Additional long term resistance lies around the 1450 area of the upper black trend line. Support on the long term lies at the lower black channel line near 1220 and where the Fibonacci 89 week moving average resides ... Read More

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