The Fibonacci channel for gold that I shared earlier has been around for a while, and I still believe it is drawn very accurately.

From the recent trend, the gold price first formed an M top, then rebounded from the bottom, rising to the 0.5 level and then up to 0.618. After a brief rebound, it fell back to 0.786 and then rebounded again to 0.618. This channel perfectly matches the recent trend of gold.

Both 0.618 and 0.786 are important gravitational levels, and currently gold is oscillating within the range of 0.618 to 0.786. Given the high validity of this channel, everyone might as well consider copying it for reference.

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