InvestMate 🥇 Gold Where Do We Fall? 🥇

Jan 29, 2023

🥇 Gold Where Do We Fall?

🥇 Nearest strong support zone: around the 0.618 fibo level of the downward wave.

🥇 Nearest strong zone of resistance: around recent peaks.

🥇 Technical environment:

📊 Moving averages: Uptrend

📊 MACD: Downtrend

📊 RSI: 50/50

🥇 Price Action: Gold during Friday's session did not find enough strength to continue its upward trend, all due to the return of dollar strength. The execution of a downward correction in gold at the current moment is very likely looking at the fact that over the past week we have not found the strength to continue breaking new highs and the fact that there has been no major correction in gold in the past month.

📉 The scenario I am playing out is the execution of a downward correction. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.

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Feb 4, 2023

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