GOLD ON SUPPORT, POSSIBLE PULLBACK
Gold has retraced over 61%, reaching a key support zone that indicates a potential reversal to the upside. On the 4-hour timeframe, a broad Fair Value Gap (FVG) has formed between $2678 and $2701, which we anticipate may fill as the price rebounds. However, there remains a possibility of further downside momentum, which could lead to a deeper test of the support zone before a reversal fully takes hold.
Related publications
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.