GOLD - 61.8% FIBONACCI REJECTED TWICE | REVISIT TO THE 200DMA?

Short

CFDs on Gold (US$ / OZ) (TVC:GOLD)

TVC:GOLD CFDs on Gold (US$ / OZ)

trendanalysis chartpattern indicator dollar dxy usd gold forex currencies oil silver fx

Daily price action has failed to close above the 61.8% fibonacci level for the second time now
A double top of sort has formed at this level
Given this scenario, it may be likely that we may correct first before pushing back up to the next level
Correction target will be ~ $1825 due to its confluence with the 200DMA and 61.8% fibonacci retracement of the recent daily swing low and high

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.