Gold has broken out of a sideways trading range that lasted for about two weeks, between the resistance level at 3345 and the support level at 2275.
Currently, gold is leaning toward a bearish outlook, targeting the 61.8% Fibonacci retracement level of the latest upward wave, which started in late November and peaked at $3500 earlier this month.
The best selling opportunity for gold is around the 3238 level, with a stop loss at 3265 and a target at 3165.
Currently, gold is leaning toward a bearish outlook, targeting the 61.8% Fibonacci retracement level of the latest upward wave, which started in late November and peaked at $3500 earlier this month.
The best selling opportunity for gold is around the 3238 level, with a stop loss at 3265 and a target at 3165.
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.
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.