Gold prices rebounded slightly today, rising from $2020 to $2027.
Despite gold still being in a corrective phase (a downward wave), the long-term trend for this precious metal remains focused on moving upwards, as supported by the EMA 34 and 89 lines.
Using Fibonacci retracement, the current correction is expected to reach levels around $2005 before the upward trend continues!
Trading plan for 06/12:
Currently, gold is still in a price decline cycle, so we will prioritize looking for selling opportunities.
Despite gold still being in a corrective phase (a downward wave), the long-term trend for this precious metal remains focused on moving upwards, as supported by the EMA 34 and 89 lines.
Using Fibonacci retracement, the current correction is expected to reach levels around $2005 before the upward trend continues!
Trading plan for 06/12:
Currently, gold is still in a price decline cycle, so we will prioritize looking for selling opportunities.
