🥇 Gold Gradually Time For A Correction 🥇
🥇 Gold Gradually Time For A Correction
🥇 Nearest strong support zone: around the 0.236 fibo level of the upward wave.
🥇 Nearest strong resistance zone: around recent local peaks.
🥇 Technical environment:
- Moving averages: Uptrend
- MACD: Uptrend
- RSI: Uptrend
🥇 Price Action: Gold has stopped following the uptrend gradually heading south for the past few days. It looks like an interesting opportunity has been created to execute a downward correction from the current price ceiling, all thanks to the return of capital towards the dollar, which I have been writing about for the last few weeks. Given the strong uptrend that has accompanied us for the past few months, the declines could be quite strenuous due to the upward sentiment on gold.
🥇 The scenario I am playing out is the execution of a downward correction to the vicinity of a strong support zone. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
🥇 Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.
🚀 If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile. 🚀
🥇 Nearest strong support zone: around the 0.236 fibo level of the upward wave.
🥇 Nearest strong resistance zone: around recent local peaks.
🥇 Technical environment:
- Moving averages: Uptrend
- MACD: Uptrend
- RSI: Uptrend
🥇 Price Action: Gold has stopped following the uptrend gradually heading south for the past few days. It looks like an interesting opportunity has been created to execute a downward correction from the current price ceiling, all thanks to the return of capital towards the dollar, which I have been writing about for the last few weeks. Given the strong uptrend that has accompanied us for the past few months, the declines could be quite strenuous due to the upward sentiment on gold.
🥇 The scenario I am playing out is the execution of a downward correction to the vicinity of a strong support zone. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
🥇 Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.
🚀 If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile. 🚀
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💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
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💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 t.me/Investmatez 💲
🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌
💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 t.me/Investmatez 💲
🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌
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.