GOLD is still trading in this rising trend corrective wedge and on a smaller TF it's trading in a chanel. (PIC below)
As we see there is a strong resistance level at green line, pluss this resistanev level conects with fib level 0.236.
If price breaks out of this wedge we can expect it fall even to Fibonacci level 1.272 (dark blue line) but first we need to get out if this wedge for real.
Good luck!
As we see there is a strong resistance level at green line, pluss this resistanev level conects with fib level 0.236.
If price breaks out of this wedge we can expect it fall even to Fibonacci level 1.272 (dark blue line) but first we need to get out if this wedge for real.
Good luck!
Comment:
If price breaks green line, it's going to test top of the wedge again.
