As we fine-tune our analysis using the Fib Speed Resistance Fan, it appears as though we're on the cusp of a major change. Closes below the purple .382 line suggest we'll see much continuation of the down trend (orange arrow), but a push beyond the downtrend's .382 (green arrow) suggests that gold
has dug it's way out of it's slump. I'd be interested in comments from other Fib Speed Fan users, and how they would agree with or change this analysis. (see on-screen questions). Proper placement of the lines makes the difference between success and failure. Happy learning and trading to you.