Hello traders!
On the 1D chart, the downtrend channel continues to be active, and gold is still developing positively this week with a high price of $1883. However, it has not yet broken out of the prolonged downward trend.
Expectations are that after gold reaches the upper limit of the uptrend channel at $1910, there will be a drop. On the other hand, breaking the trendline at $1910 in the future could open up new highs for gold. However, I still have a strong belief that prices will decline in the near future because EMA and RSI are still supporting discounts
On the 1D chart, the downtrend channel continues to be active, and gold is still developing positively this week with a high price of $1883. However, it has not yet broken out of the prolonged downward trend.
Expectations are that after gold reaches the upper limit of the uptrend channel at $1910, there will be a drop. On the other hand, breaking the trendline at $1910 in the future could open up new highs for gold. However, I still have a strong belief that prices will decline in the near future because EMA and RSI are still supporting discounts
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Related publications
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.