Gold- Is this correction done?
As I said in my weekend analysis and also yesterday, Gold has more to fall in my opinion, and the rise from 1780 is normal after a 700+ pips fall in 3 days, BUT IS JUST A CORRECTION.
Yesterday Gold reached my sell zone and has started to roll back down and this can be a signal that the correction is over.
At this moment the price is hovering around interim support and a break here would expose last week's low
A drop to 1780 again would give a high probability of a lower high in place and call for continuation to the downside with a next target at 1755-1760 zone
As I said in my previous analyzes, I will remain bearish in medium-term as long as the price is under 1830
Best of luck trading Gold!
Mihai Iacob
Yesterday Gold reached my sell zone and has started to roll back down and this can be a signal that the correction is over.
At this moment the price is hovering around interim support and a break here would expose last week's low
A drop to 1780 again would give a high probability of a lower high in place and call for continuation to the downside with a next target at 1755-1760 zone
As I said in my previous analyzes, I will remain bearish in medium-term as long as the price is under 1830
Best of luck trading Gold!
Mihai Iacob
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💎 Crypto Channel:
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