Gold correction is imminent
According to Fibonacci, in the 4-hour timeframe, gold can reach around $2,735 and near Fibo 78.6. Considering the RSI, which is in the overbought range and the formation of a head and shoulders pattern, we expect gold to correct to the $2,550 range.
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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.