Gold: Wait for sell confirmation or rejection at 1824-1835
The weekly candle closed above 50MA which is being treated as support since 2019.
I expect a small corrective bounce or retest of the 1824-1835 levels before the continuation of the downtrend. The target price is 1700 and 1670 in extension (bottom of the channel).
I expect a small corrective bounce or retest of the 1824-1835 levels before the continuation of the downtrend. The target price is 1700 and 1670 in extension (bottom of the channel).
Comment:
Stoploss at 1845. Above that level, it will invalidate this analysis.