Gold- Is this correction over?
In my yesterday's comment I said that, in my opinion, the rise from 1690 support is just a correction, not the start of a new bull leg and my opinion remains unchanged.
This correction has continued yersterday and as I expected, a spike above 1730 took place.
However, looking at the posted chart we can clearly see that the structure lacks impulse and is overlapping suggesting that a reversal is imminent.
A first indication that the correction is over comes with a break under short term trend line with further contirmation with a drop under yesterday's low.
I'm looking to sell Gold
This correction has continued yersterday and as I expected, a spike above 1730 took place.
However, looking at the posted chart we can clearly see that the structure lacks impulse and is overlapping suggesting that a reversal is imminent.
A first indication that the correction is over comes with a break under short term trend line with further contirmation with a drop under yesterday's low.
I'm looking to sell Gold
🚀 Elevate your trades with a 20-year market veteran!
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
🌟 Premium Contact:
t.me/IacobMihai
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
🌟 Premium Contact:
t.me/IacobMihai
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.