Technical chart H4. The main trend is bearish. - Trend: Break the trend and go down to 1680-1683 and then return to the price zone of 1695-1700 and then go straight to the zone of 1660-1640. - MA: Piercing the EMA 50. - RSI: The previous RSI divergence 8 candles. - FB: The target is to penetrate the 23.6 zone to return to the 38.2 zone for a price of 1630-1640. In case of area 50, the price will go below 1600. Fundamental analysis: - Money is being pumped into US and European stock markets. Therefore, cash flow did not hide into gold, even was withdrawn. - Dollar index is getting stronger. - The supply of gold is gradually increasing due to less severe margins of translation of Covid 19.
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correction: Trend: Break the trend and go down to 1680-1616
Comment
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correction: Trend: Break the trend and go down to 1680-1683