GOLD (XAUUSD)
https://www.tradingview.com/x/GUzvyesQ/
Over the past week, Gold (XAUUSD) has been involved on a bearish rally, breaking all the key support levels that have been consolidated over the time.
Currently gold has reached the 1778 support level and then bounced to 1760.
We expected the price to drop to the 61,80% - 78,60% of fibonacci retracement to place a buy on 1733,80, our target: 1768,49 is on the resistance level that has broken. We expect the price to consolidate at that level and then maybe the bearish rally continues going. If our stop loss is reached at 1723,79 the bearish trend will potentially continue and price maybe will drop to the next support on 1700.
Over the past week, Gold (XAUUSD) has been involved on a bearish rally, breaking all the key support levels that have been consolidated over the time.
Currently gold has reached the 1778 support level and then bounced to 1760.
We expected the price to drop to the 61,80% - 78,60% of fibonacci retracement to place a buy on 1733,80, our target: 1768,49 is on the resistance level that has broken. We expect the price to consolidate at that level and then maybe the bearish rally continues going. If our stop loss is reached at 1723,79 the bearish trend will potentially continue and price maybe will drop to the next support on 1700.
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