GOLD → Correction after strong sell-offs. What's next?
Updated
XAUUSD is trading in the range of 2335-2397. Bulls are trying to keep the price from falling, countering the market in the 2330-2340 area. A rebound may reach local liquidity zones. At the moment the market is bearish but also volatile. Any news could have a strong impact on the dolar and gold. In the mid-term, since after a false break of support a rebound is forming, which is developing within a possible fourth wave, this movement may reach the local liquidity areas 2354, 2368 before a possible further fall. It is worth paying attention to the nearest resistance areas and any market reaction in the form of weakness may give a corresponding reaction - a decline.
Resistance levels: 2354, 2368, 2374
Support levels: 2335
Today is a holiday in the USA and the market volatility may be low. A correction is forming, the purpose of which is to collect liquidity. The fall may continue from local reversal zones.
Regards R. Linda!
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Gold strengthens to 2360
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