Gold declined after moving to its 61.8% Fibonacci retracement ONCE AGAIN. The implications are clear. {chart}Gold just jumped to its 61.8% Fibonacci retracement. On a day-to-day basis, we just saw a sizable, two-day rally that might seem like uptrend’s continuation. BUT. This is exactly what used to happen multiple times after gold tops. This is the default post-top price action for the yellow metal. Again, default. {chart} That’s how gold topped in 2020, 2022, and 2023. It even topped in this way in mid-2019. In 2008, gold corrected slightly more than 61.8% of its initial decline before plunging, but I’ll move to ... (full story)