InvetsMate 🥇 Gold Fell As I Wrote 🥇

4 feb 2023

🥇 Gold Fell As I Wrote.

🥇 Nearest strong support zone: around the fibo level of the 0.236 upward wave.

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

🥇 Technical environment:

📊 Moving averages: Uptrend

📊 MACD: Downtrend

📊 RSI: Downtrend

🥇 Price Action: Gold fell as I wrote, the apparent weakness in gold could be seen since the breakout of the $1920 price levels. Since then we have had a lot of trouble generating a new strong upward momentum. So far, it looks like the downward trend initiated will continue. Over the coming days, I expect the price to slowly descend to lower levels, perhaps even in the area of $1820

📉 The scenario I am playing out is a continuation of the downward movement. 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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5 feb 2023

Nota