sahebkaranR

sahebkaranR

From a price action perspective, the long-term trend of gold is bullish. However, the short-term trend of gold is expected to be bearish. Therefore, the market may fall from the pivot level and reach the first support level.

sahebkaranR

Following a breakdown of the trendline, the asset has retested it and is now retracing towards the gap area.

sahebkaranR

Based on the monthly chart analysis, gold is expected to undergo a corrective move towards the MA200 level. The previous breakdown of this level and the alignment with the RSI indicator, which is in the oversold region, reinforce this forecast. Additionally, the formation of an inverse head and shoulders pattern on the daily chart increases the likelihood of a...