Gold could be making a complex ABC Correction Target 1750
The daily chart on Gold is possibly showing a complex ABC correction from recent highs. The yellow metal is firmly below the 50 Day EMA and there is very little in the way to obstruct it's journey down to major support at 1,750 area. The MACD on the daily is bearish.
Note
I'll be watching closely as price action approaches 1840 area. 1838 is the Fib 382 retrace level of the March low. We may see a pullback at that level but the correction should continue to the target area.
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