citi bank Gold’s Final Breakout
November 24 (King World News) – Excellent piece from Citi’s Naveen Nair: Gold is testing very strong resistance at $2000-$2009 (Psychological level, 76.4% Fibonacci retracement and October highs). We closely watch this level, given a decisive break would suggest a +2.7% move towards 2023 highs.
Building blocks:
- Resistance at $2000-$2009 (Psychological level, 76.4% Fibonacci retracement and October highs) is very strong
- 76.4% Fibo retracement has been historically a strong resistance level (as shown on the weekly chart)
- A decisive break above this level has seen rallies towards the ~$2070level.
- To the downside, support is likely at $1940.74 (200-day MA)
Gold Attempting To Break Out And Attack All-Time Highs
https://kingworldnews.com/citi-says-gold-on-the-cusp-of-a-major-breakout-that-will-send-price-to-all-time-high/