XAUUSD, 4H
Global gold is currently moderating the trend following the downtrend last week after responding to the 0.618 Fibonacci retracement of its past uptrend.
The first scenario, if the corrective action continues, is to increase the short-term price to the custer price of 1264 1261, and in response to this resistance range, there is a probability of a crust pattern that can lead the price in its downtrend to 1224 1231. .
And at a harmonious look, it's possible to see the completion of the Newcypher and Butterfly patterns to a supportive extent.
The first scenario, if the corrective action continues, is to increase the short-term price to the custer price of 1264 1261, and in response to this resistance range, there is a probability of a crust pattern that can lead the price in its downtrend to 1224 1231. .
And at a harmonious look, it's possible to see the completion of the Newcypher and Butterfly patterns to a supportive extent.
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