The Really Useful Gold Thread

Hi folks and Happy New Year.

Todays jump in gold price was halted dead in its tracks by two good levels of resistence meeting at the same time and place. 1 x Fib zone and a overhead downward trendline. IMHO
At first sight it seemed as if price had broken out above a longer term overhead trendline but it then reacted back down off the Fib AND another slightly shorter term overhead t/l. What a bas...

Longer term chart to show the Fibs in play. Also showing a t/l (red dashed line).


Zoomed in so we can see the detail.