Gold prices are expected to continue to go down
Updated
Dear friends, it's great to see you again in today's trading session.
At the time of writing this article, the price is fluctuating around $2033 at the start of the trading session, showing a slight recovery after a sharp drop to $2017 at the end of yesterday's trading session.
The precious metal has broken out of the support level at $2033 and the price analysis chart indicates a clear downward trend with a convergence preparing for a reversal from the 4 and 89 EMA.
It is expected that the current price correction will continue until a retreat of 0.5 or even 0.618. We can anticipate further decline in gold after this correction phase. Selling opportunities should be prioritized, my friends!
At the time of writing this article, the price is fluctuating around $2033 at the start of the trading session, showing a slight recovery after a sharp drop to $2017 at the end of yesterday's trading session.
The precious metal has broken out of the support level at $2033 and the price analysis chart indicates a clear downward trend with a convergence preparing for a reversal from the 4 and 89 EMA.
It is expected that the current price correction will continue until a retreat of 0.5 or even 0.618. We can anticipate further decline in gold after this correction phase. Selling opportunities should be prioritized, my friends!
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