Gold Update:
Gold has experienced a significant downturn since yesterday, marked by a 3% decline.
Currently, the outlook for gold is not favorable. However, it's important to note that this decline doesn't necessarily signify a selling opportunity. Instead, it suggests that gold needs to undergo a corrective phase before resuming its upward trajectory.
Our analysis indicates that gold's correction will likely take the form of an ABC pattern, leading it to reach a buying zone. From there, we anticipate its ascent to continue towards higher levels.
Stay tuned for further updates as we monitor the market closely.
Gold has experienced a significant downturn since yesterday, marked by a 3% decline.
Currently, the outlook for gold is not favorable. However, it's important to note that this decline doesn't necessarily signify a selling opportunity. Instead, it suggests that gold needs to undergo a corrective phase before resuming its upward trajectory.
Our analysis indicates that gold's correction will likely take the form of an ABC pattern, leading it to reach a buying zone. From there, we anticipate its ascent to continue towards higher levels.
Stay tuned for further updates as we monitor the market closely.
