As the price broke a wedge, it will sink now towards to test decisive 1308 level.
As long 1308 will hold the price above, a retracement to the formation is expected. Otherwise, the price will pierce through the mentioned level and drop until psychological 1300.
As long 1308 will hold the price above, a retracement to the formation is expected. Otherwise, the price will pierce through the mentioned level and drop until psychological 1300.
Comment:
As it was predicted, the Gold price has dropped, piercing through 1308 level and reaching the levels below 1303. Currently, the price is hesitating, so it will waver for a while between 1308 now resistance and 50.0 Fibonacci retracement level.