Gold: Wait for sell confirmation or rejection at 1824-1835
Updated
The weekly candle closed above 50MA which is being treated as support since 2019.
I expect a small corrective bounce or retest of the 1824-1835 levels before the continuation of the downtrend. The target price is 1700 and 1670 in extension (bottom of the channel).
I expect a small corrective bounce or retest of the 1824-1835 levels before the continuation of the downtrend. The target price is 1700 and 1670 in extension (bottom of the channel).
Note
Stoploss at 1845. Above that level, it will invalidate this analysis.
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