Gold sideways correction
Weekly Analysis 21 Apr, 2024
Gold has shown a strong uptrend on 1H timeframe, attributed to war related news. Trading above the trendline is deemed bullish, and a breakout below this line presents a selling opportunity upon retesting. gold is currently doing sideways correction. main support level stands at 2330.
Gold maintaining its current level, it may start either a zigzag correction or continues sideways correction. Despite ongoing war related news, gold has been trading sideways around the 2370-2420.
Gold has shown a strong uptrend on 1H timeframe, attributed to war related news. Trading above the trendline is deemed bullish, and a breakout below this line presents a selling opportunity upon retesting. gold is currently doing sideways correction. main support level stands at 2330.
Gold maintaining its current level, it may start either a zigzag correction or continues sideways correction. Despite ongoing war related news, gold has been trading sideways around the 2370-2420.
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