Gold is looking to be rejecting the $1650 resistance zone now with multiple 4hr rejection candles forming. This is a lower high forming and there is potential for price to fall back down to the next support zone at $1580.
If that zone is broken then a lower low could be made which I have the -0.27 fib extension level drawn to show. This could be a good target profit 2 if price action shows the support zone breaking.
If that zone is broken then a lower low could be made which I have the -0.27 fib extension level drawn to show. This could be a good target profit 2 if price action shows the support zone breaking.
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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.