The Gold Odyssey - deep retrace
Gold has been in a four week retracement, with the greatest momentum this past week, pushing down to near 1800.
The weekly and daily technicals suggest more downside to 1765, where the next support lies. Watch these levels for a possible consolidation / bounce.
Clearly, this retracement is deeper than expected, and would require a quick rebound to resume the long term pattern.
The weekly and daily technicals suggest more downside to 1765, where the next support lies. Watch these levels for a possible consolidation / bounce.
Clearly, this retracement is deeper than expected, and would require a quick rebound to resume the long term pattern.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.