GOLD ANALYSIS 04.03.2024
1) Observing AO, I predict a potential divergence as AO will form a LH (Lower High).
2) This divergence may lead to a change in direction from bullish to bearish.
3) I anticipate a slight increase in price before a downturn occurs.
4) To identify the optimal selling zone, I use Fibonacci retracement at levels 1.236 and 1.618.
5) If the price remains below 2081.46 (orange line), there is a tendency for further downward movement.
2) This divergence may lead to a change in direction from bullish to bearish.
3) I anticipate a slight increase in price before a downturn occurs.
4) To identify the optimal selling zone, I use Fibonacci retracement at levels 1.236 and 1.618.
5) If the price remains below 2081.46 (orange line), there is a tendency for further downward movement.
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