Gold is showing weakness and could retrace at least 12%
Gold just reject the value area high from 2024 with the monthly november candle close and is showing bearish divergences in the high timeframes.
The Anchored VWAP for the entire year of 2024 is at 2,460.000 and the point of control of this year is at 2,331.464. The fibonacci 0,618% from this year is at 2,303.016.
So in resume Gold will likely retest the trendline of the top of 80s and 2011 between at 2,300.00 region.
The Anchored VWAP for the entire year of 2024 is at 2,460.000 and the point of control of this year is at 2,331.464. The fibonacci 0,618% from this year is at 2,303.016.
So in resume Gold will likely retest the trendline of the top of 80s and 2011 between at 2,300.00 region.
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