rsi was highly overbought and now it back to normal level
after 12345 wave price has made abc correction with 0.382 retracement
this macro trend for gold is super bullish it is ready to breakout its 2070 multi year resistance
$2000 is a huge phycological level so profit taking here is very reasonable
since macro is big bull on gold so may be it don't hit 0.618 or 0.50 level after $75 correction from last high but
you should be ready upto 50% level
and new higher high target is $2100
becasue after rate pause inevitable rate cut is coming
after 12345 wave price has made abc correction with 0.382 retracement
this macro trend for gold is super bullish it is ready to breakout its 2070 multi year resistance
$2000 is a huge phycological level so profit taking here is very reasonable
since macro is big bull on gold so may be it don't hit 0.618 or 0.50 level after $75 correction from last high but
you should be ready upto 50% level
and new higher high target is $2100
becasue after rate pause inevitable rate cut is coming
Comment:
fomo buyers couldn't wait more than 0.382 retracement
