Technical analysis of gold:
2-day timeframe
Gold is in an upward channel on the 2-day timeframe and is currently moving within that channel. Having reached the channel's ceiling, considering the previous reaction to the ceiling and a 12% decline, we expect a repetition of this trend.
If it intends to complete the downward trend,
Our target in the long term will be within the range of 2041 - 2070.
2-day timeframe
Gold is in an upward channel on the 2-day timeframe and is currently moving within that channel. Having reached the channel's ceiling, considering the previous reaction to the ceiling and a 12% decline, we expect a repetition of this trend.
If it intends to complete the downward trend,
Our target in the long term will be within the range of 2041 - 2070.
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✨ Two important price ranges for gold that may signal a downward trend:
2305 - 2310
2325 - 2330
2305 - 2310
2325 - 2330
