Analysis for beginners: Gold – the trend continues

The week started with a gap down. The gold price has now taken down to a support area, where the trend line coincides with the 50% of the last impulse. Today’s record low to reach Fibo 61,8%.

If you look at the price according to the diagram below to see how the growing price development has been (especially at 1270,00). A return to potential growth rates can lead to the long positions, which is consistent with the prevailing trend.

The next goal becomes the week’s closure, which would fill the gap. The next target is located at 1295 (latest top).

Leave a Reply