Gold prices continue their falling streak
Hello dear friends, it's great to meet you again for a discussion on gold today.
Currently, gold is trading around the level of $2032 in the early trading session and showing a slight recovery after a price correction following a drop to $2017 at the end of yesterday.
The precious metal has successfully broken out of the support level at $2033, and on the chart, the downward trend is clearly indicated with the convergence of the EMA 34 and 89 lines signaling a potential reversal.
It is expected that the current price correction will continue until reaching the 0.5 - 0.618 Fibonacci retracement level. We can anticipate further decline in gold after this consolidation phase. Selling is preferred, my friends!
What about you? Do you think gold will continue to decrease?
Currently, gold is trading around the level of $2032 in the early trading session and showing a slight recovery after a price correction following a drop to $2017 at the end of yesterday.
The precious metal has successfully broken out of the support level at $2033, and on the chart, the downward trend is clearly indicated with the convergence of the EMA 34 and 89 lines signaling a potential reversal.
It is expected that the current price correction will continue until reaching the 0.5 - 0.618 Fibonacci retracement level. We can anticipate further decline in gold after this consolidation phase. Selling is preferred, my friends!
What about you? Do you think gold will continue to decrease?
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