Dear friends, let's explore the Gold market for the new week together!
In general, the start of the new week sees Gold relatively quiet around the $2043 mark.
Looking at the analysis chart: The overall trend is still bearish, with two negative factors driving it. Factor 1: The downtrend continues from the levels of $2149 and $2089. Factor 2: Gold has broken out of the price increase channel around $2058, leading to a significant decline. Although there has been some adjustment, it is still not strong enough.
Therefore, it would not be surprising if Gold continues to decline with an expected drop to $2015.
The important thing is to closely monitor and grasp these updates to have a clearer view of the upcoming significant ups and downs in Gold.
In general, the start of the new week sees Gold relatively quiet around the $2043 mark.
Looking at the analysis chart: The overall trend is still bearish, with two negative factors driving it. Factor 1: The downtrend continues from the levels of $2149 and $2089. Factor 2: Gold has broken out of the price increase channel around $2058, leading to a significant decline. Although there has been some adjustment, it is still not strong enough.
Therefore, it would not be surprising if Gold continues to decline with an expected drop to $2015.
The important thing is to closely monitor and grasp these updates to have a clearer view of the upcoming significant ups and downs in Gold.
Trade closed: target reached
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📈 Forex & XAU/USD Channel:
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📈 Forex & XAU/USD Channel:
t.me/+aAiSpQb7RdJkN2Y9
