GOLD topped EXACTLY where expected and is pulling back bigly

13 Nov 2024

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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19 Nov 2024

Dagangan aktif

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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