Using Fibonacci dividing line and Fibonacci fan to analyze gold
As can be seen from the figure, 1818 ~ 1833.5 is a key resistance range, and the gold price has shown a reversal signal in this range, and the probability rate will continue to fall.
The following initial support is 1800, followed by 1790, 1785, and finally 1775. As the key support level of this round of rebound, 1775 will be tested if it falls below 1750 ~ 1700 again.
The following initial support is 1800, followed by 1790, 1785, and finally 1775. As the key support level of this round of rebound, 1775 will be tested if it falls below 1750 ~ 1700 again.
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As can be seen from the 4-hour chart, if it rebounds around 1790, as long as the price does not exceed 1818, it is possible to form a head shoulder shape
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It can be seen from the harmonic shape that point B 1750 is very important
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For a larger period, if the price falls below 1676, it may test below 1530 or 1400
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Combined with the more long-term graph and looking at the 4-hour graph, it can be analyzed that as long as the price does not exceed the range of 1820-1833.5, it will be difficult to reach 1850. Therefore, if you choose to be long, it is recommended not to look too far
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1785~1790 can go to Bo for a wave of rebound, 1807~1813 closed position