GOLD WILL FALL MORE

5 hours ago

Hello guys hope you have an amazing week .Again the price perfectly moved according my last forecast more than +500 pips great profit .Now lets start new forecast as you can see the price made a new lower high and new downtrend channel .
After war news gold fell alot and broke uptrend and fixed below ma200 i expect after a pullback gold continue downtrend .
If you check daily time frame you can see gold make a head and shoulders pattern too .
Gold prices fell on Monday, marking the first decline in six trading sessions despite a weaker dollar. This drop was attributed to easing geopolitical tensions following reports that Israel and Lebanon reached a ceasefire agreement in their conflict involving the Hezbollah militia.

Gold for February delivery dropped to $2,625 per ounce.

According to Axios, Israel agreed to a ceasefire with Lebanon despite continuing to bomb Beirut and Hezbollah firing rockets across the borders. This agreement reduced the tensions that had significantly escalated last week, leading to a 6.5% increase in gold prices. The rise occurred after Ukraine launched its first attacks on Russia using foreign-made missiles, prompting nuclear threats and the testing of a missile by Russia targeting the city of Dnipro.

The dollar weakened significantly, which is typically supportive for commodities priced in the currency.