UPDATE: Gold Sitting at Equilibrium



This is a quick update from my post on Friday

Gold broke down from its pennant yesterday and hit its first support at ~$1880. Price remains in a bull flag, but a break below $1875 should see a quick drop to $1800, which would be a backtest of the entire breakout.


As always, we would love to hear your feedback.
About the author

I am the founder of fibonacci.com and an avid trader. I am also the co-founder of Texas Precious Metals, a top US precious metals company. In 2006 I was a contestant on The Apprentice with future president, Donald Trump. I live in Coeur D'Alene, Idaho, with my wife and six children, where I spend my time hiking, charting, and changing diapers.

Related Posts

Leave a Reply

Free Download

An Introduction to Applying Fibonacci Ratios In Technical Analysis (Free Download)