The gold market has consistently maintained its positive trend by holding crucial Fibonacci retracement levels. This indicates strong market resilience. Setbacks in gold prices have repeatedly held either a 23.6% or 38.2% Fibonacci retracement.
This reinforces the bullish trend. Historical data reveals significant points where the market respected these levels. On June 7, 2024, gold retraced to a 23.6% level from its 2022 low.
This pattern repeated on June 27, 2024, leading the market to new highs. Another key moment occurred on November 14, 2024. The market held a 38.2% retracement from the June 7 low.
This drove prices higher once more. Subsequent movements continued this trend. A minor setback on February 28, 2025, held a 23.6% retracement at $2930.00.
Gold maintains Fibonacci strength
This was followed by a new high. On April 7, 2025, a significant setback held a 38.2% retracement at $2996.00.
It triggered a sharp rally, with prices increasing by over $500 in just ten trading days. The most recent low held a 38.2% retracement at $3196.00. Traders are monitoring for a new high that is expected from this level.
For those using Fibonacci retracements in the gold market, the ONE44 Analytics guidelines provide clear rules. A 38.2% retracement suggests the trend will likely continue to new highs or lows. A 23.6% retracement indicates extreme market strength or weakness.
In contrast, a 61.8% retracement can lead to a significant market swing. A 78.6% retracement might signal the beginning or end of a bull market. ONE44 Analytics emphasizes the importance of understanding Fibonacci retracements and Gann squares.
This helps make informed trading decisions. Their analysis aims to offer actionable insights based on pure price patterns.