Right direction 🏆
Coming down...
Gold takes another dive and confirms our turnaround zone. The purple trendline is broken, which sends a positive signal for further downwards pressure. However, there is another hurdle coming up. We are talking about the $1908 area where support is to be expected. Nevertheless, the bears should be able to bring prices down to roundabout $1860. In this case, the time factor also plays a key role. We consider the current movement to be a wave 3. So the longer it takes for the bears to break the support at $1908, the less likely the wave 3 in green becomes, as it will lack the impulsiveness typical for this type of wave. All in all, we are moving in the right direction, and our turnaround zone is confirmed. The next big step are prices below $1908.
Is the next stop in the area $1860? What do you think?
Gold takes another dive and confirms our turnaround zone. The purple trendline is broken, which sends a positive signal for further downwards pressure. However, there is another hurdle coming up. We are talking about the $1908 area where support is to be expected. Nevertheless, the bears should be able to bring prices down to roundabout $1860. In this case, the time factor also plays a key role. We consider the current movement to be a wave 3. So the longer it takes for the bears to break the support at $1908, the less likely the wave 3 in green becomes, as it will lack the impulsiveness typical for this type of wave. All in all, we are moving in the right direction, and our turnaround zone is confirmed. The next big step are prices below $1908.
Is the next stop in the area $1860? What do you think?
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.