Based on Fibonacci Extensions, gold
has reached Potential Reversal Zone (PRZ) at 1452-1455. Furthermore, there are negative divergences on RSI
for daily timeframe
, which can hint about a short term reversal.
Also take a look at the weekly chart below. Gold
has completed harmonic
AB = CD pattern on the weekly chart. If gold
reverses from the top at 1452, it will reach 1400 or even lower at 1370-1380.