GOLD Medium term View
As anticipated previously Spot gold failed to break is major resistance around 1750 -1760 and fallen sharply from there.
Gold prices are now likely to test 9th March 2021 Lowes which is $1676
On the daily chart currently gold prices are trading in a downward sloping channel. If 1676 dollar is breached a test of the test of channel lower level is possible approx $1649
Also this week closing will be imp as we are trading close to 61.8 fibonacci retracement level of $1688
Gold prices are now likely to test 9th March 2021 Lowes which is $1676
On the daily chart currently gold prices are trading in a downward sloping channel. If 1676 dollar is breached a test of the test of channel lower level is possible approx $1649
Also this week closing will be imp as we are trading close to 61.8 fibonacci retracement level of $1688
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