I have an advice for anyone still hold LONG position of GOLD : close it.
No chance for you.
The trend of Gold is still DOWNTREND.
Look at on the chart: GOLD met a lot of strong resistances: SMA200+EMA50, Two trend lines. Fibonacci retracement levels + Fibonacci Fan levels. I still not count Kumo cloud of Ichimoku pattern and even Gann Square Nine levels.
Moreover, The FED Interest Rate Decision on Wednesday would have a significant impact on Gold price. I surely the decision would weight on GOLD.
I expect Gold would be down to 1268 level I show on the chart.
No chance for you.
The trend of Gold is still DOWNTREND.
Look at on the chart: GOLD met a lot of strong resistances: SMA200+EMA50, Two trend lines. Fibonacci retracement levels + Fibonacci Fan levels. I still not count Kumo cloud of Ichimoku pattern and even Gann Square Nine levels.
Moreover, The FED Interest Rate Decision on Wednesday would have a significant impact on Gold price. I surely the decision would weight on GOLD.
I expect Gold would be down to 1268 level I show on the chart.