The price of Gold has already established four bullish legs and a corrective one might be due next.
The price action is currently establishing a divergence, which is also underpinned by the MACD indicator.
If the price drops to the closest support, which is highly likely, this would represent a movement of $20 dollars. And if the price manages to break down below it, then the next target would be at the psychologically significant threshold at 1800.00. Such a correction would entail an additional dropdown of $50 in the price of the commodity
The price action is currently establishing a divergence, which is also underpinned by the MACD indicator.
If the price drops to the closest support, which is highly likely, this would represent a movement of $20 dollars. And if the price manages to break down below it, then the next target would be at the psychologically significant threshold at 1800.00. Such a correction would entail an additional dropdown of $50 in the price of the commodity
