Gold is following the pattern of Bullish variant - Penant. The price can be seen to have broken its last week's resistance of 1980-1984 area and is currently taking correction. As we can see on this Daily chart that a bearish divergence is also being formed on Chaikin oscillator that reassures that gold is under correction and may drop a little more before starting to move upwards again. The buying zone would be 1984-1999. Gold is expected to rally towards a new ATH in the coming weeks.
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.