Gold continues its recovery, building on last Friday's gains, with prices now orbiting around $2442 USD, up more than $27 at the time of writing.
The long-term outlook remains bullish, eyeing the $2500 USD record target. However, in the short term, gold might need to adjust and pull back. Currently, the charts suggest that gold is peaking, and I anticipate a corrective phase reaching down to the Fibonacci levels of 0.5 - 0.618, around $2420 - $2415 USD, before it becomes favorable to buy again.
What do you think about today's gold trading strategy?
The long-term outlook remains bullish, eyeing the $2500 USD record target. However, in the short term, gold might need to adjust and pull back. Currently, the charts suggest that gold is peaking, and I anticipate a corrective phase reaching down to the Fibonacci levels of 0.5 - 0.618, around $2420 - $2415 USD, before it becomes favorable to buy again.
What do you think about today's gold trading strategy?
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