GOLD Medium term View
As anticipated previously Spot gold failed to break is major resistance around 1750 -1760 and fallen sharply from there.
Gold prices are now likely to test 9th March 2021 Lowes which is $1676
On the daily chart currently gold prices are trading in a downward sloping channel. If 1676 dollar is breached a test of the test of channel lower level is possible approx $1649
Also this week closing will be imp as we are trading close to 61.8 fibonacci retracement level of $1688
Gold prices are now likely to test 9th March 2021 Lowes which is $1676
On the daily chart currently gold prices are trading in a downward sloping channel. If 1676 dollar is breached a test of the test of channel lower level is possible approx $1649
Also this week closing will be imp as we are trading close to 61.8 fibonacci retracement level of $1688
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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.