Gold is currently trading at $3,345.02. The recommendation is to sell now, targeting a bearish move down to $3,050. This outlook is supported by the formation of a rising wedge pattern in confluence with a 3rd retest on the daily chart, a technical setup that often signals a downward price movement. After reaching the target of $3,046, expect a retracement back to $3,242, where the price is likely to retest the long-term bullish trend.
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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.