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Gold has Respected Fibonacci Series Levels

Posted By On 9:19 PM Under

This is an interesting observation that gold has perfectly respected the 38.2 percent and 61.8 percent retracements. The same has been analysed on a chart taking price cues as far as 40 year chart.

If we observe the last rally since 2005, we will be able to observe that gold staged a 2-year long sideways consolidation when it reached the old 1980 highs. Fibonacci levels has worked perfectly with gold and it is interesting to note that how perfectly the 38.2 percent retracement was met after the major rally this time.

Thus if Fibonacci holds true for gold than as per the law of the nature it will hold true for the stocks also and one can check their likely fall or rise with help of Fibonacci Calculator which can make working out data justa matter of breeze.
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