🥇 Gold Completion of Declines and Upward Correction? 🥇

🥇 Gold Completion of Declines and Upward Correction?

🥇 Nearest strong support zone: around fibo 0.5 levels of the declining wave.

🥇 Nearest strong resistance zone: around fibo levels 0.618 of the downward wave.

🥇 Technical environment:

📊 Moving averages: Downtrend

📊 MACD: 50/50

📊 RSI: Downtrend

🥇 Price action: gold is falling for another day in a row but we can see that the current downward momentum is slowly running out. It looks like we can expect an upward breakout at any time. In order to catch the moment of reversal well, we would have to go down and watch gold on lower timeframes. It looks like an interesting opportunity will open up in front of us soon. I encourage you to observe.

📈 The scenario I am playing out is to wait for the end of the current downward impulse and wait for a new upward correction. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.

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