Gold continues its upward correction within the short-term downt
Gold continues its upward correction within the short-term downtrend. If the trend continues, the price will likely reach below the June 26 low. In this case, bears will try to break through the Target Zone 2293-2285. If successful, the quotes will likely continue to decline with the target at the Gold Zone 2250-2245.
If the correction continues, the price may test the trend's boundary at 2372-2363 again this week. Once the asset pierces this zone from below, the downtrend will reverse. In this connection, consider long trades with the target at the upper Target Zone 2450-2435.
If the correction continues, the price may test the trend's boundary at 2372-2363 again this week. Once the asset pierces this zone from below, the downtrend will reverse. In this connection, consider long trades with the target at the upper Target Zone 2450-2435.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.