Gold - Daily cycle top (Hourly chart)
Last Friday gold printed a daily cycle top and very possible this was the intermediate cycle top too.
After the daily reversal the next day price usually tags the 38.2% Fibonacci retracement. This time it 's at 2371,9.
The attack against Israel helped gold to bounce on the hourly chart to 2371 tonight.
I still think later tomorrow the decline continues and we can see lower prices.
After the daily reversal the next day price usually tags the 38.2% Fibonacci retracement. This time it 's at 2371,9.
The attack against Israel helped gold to bounce on the hourly chart to 2371 tonight.
I still think later tomorrow the decline continues and we can see lower prices.
Note
The drop is not over yet. Gold is going lower.
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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.