GOLD 1D chart analyisis, short view

7 באוג׳ 2022

On Friday, the price of gold formed a new lower high, and it was stopped at the 61.8% Fibonacci level and the upper resistance line. It could be a sign of a new price pullback and perhaps the formation of a new lower low in the $1640-1660 zone. For a bullish option, we have to climb to the $1820-1840 zone; after that, we could expect the price to attack the $1870-1880 next upper resistance zone.