Retest for the continuing bearish trend or a bullish breakout
Hi,
A technical analysis about GOLD price... If it will continue to fall or finally can make a breakout?
I think we are going to know it anytime soon.
I'll be on the bullish side if the price manages to break above the key level marked with the gray area (nearly 1750 USD). In that case I think prices will follow a path similar with the green bars pattern shown on the graph.
And if the prices cannot break the key level than this means a confirmation for continuing the bearish trend. Than I think the scenario shown with the red bars patterns comes true.
I share below the weekly view to show the fibo levels by the way.
A technical analysis about GOLD price... If it will continue to fall or finally can make a breakout?
I think we are going to know it anytime soon.
I'll be on the bullish side if the price manages to break above the key level marked with the gray area (nearly 1750 USD). In that case I think prices will follow a path similar with the green bars pattern shown on the graph.
And if the prices cannot break the key level than this means a confirmation for continuing the bearish trend. Than I think the scenario shown with the red bars patterns comes true.
I share below the weekly view to show the fibo levels by the way.
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