🥇 Gold Accumulation? 🥇

🥇 Gold Accumulation?

🥇 Nearest strong support zone: around $1820.

🥇 Nearest strong resistance zone: completion of the recent upward correction near $1850.

🥇 Technical environment:
- Moving averages: Uptrend
- MACD: Downtrend
- RSI: Uptrend

🥇 Price action: after a perfectly predicted rally of the price to the vicinity of the nearest support zone, gold has started to execute an upward correction which is immediately currently being reversed in the opposite direction. I expect the execution of accumulation formations in the coming weeks. It doesn't look to me that without a major correction gold still has space to break out even higher, but also with such a strong uptrend I don't see any reason for a sudden price reversal.

🥇 Scenario I am playing out is to wait for investors' decisions on the direction of the price, I am not currently favoring any direction. 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.

🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀