After seeing divergence between price and the MACD, Gold finally topped out around the $2955 mark. This saw the end of a bullish impulse originating at the end of last year and the start of a correction.
Using Fibonacci retracement levels, we can estimate where Gold may pull back to.
In this case, Fibonacci levels are potential areas of support as we are looking at the correction of a bullish move. These could be used as targets for any short trades if they meet your trading rules.
Using Fibonacci retracement levels, we can estimate where Gold may pull back to.
In this case, Fibonacci levels are potential areas of support as we are looking at the correction of a bullish move. These could be used as targets for any short trades if they meet your trading rules.
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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.
Low-Cost Trading, for everyone, everywhere.
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.