🥇 Gold Is Losing Strength 🥇

21 janv. 2023

🥇 Gold Is Losing Strength

🥇 Nearest strong support zone: around the 0.618 level of the upward wave

🥇 Nearest strong resistance zone: around recent highs

🥇 Technical environment:

- Moving averages: Uptrend

- MACD: Downtrend

- RSI: 50/50

🥇 Price action: gold today did not find enough strength to break through the recent highs which ended in a slow but noticeable wave of declines, at the current point anything is possible, also I would not get attached to the current short-term downtrend. It is necessary to wait for the formation of some kind of formation on higher intervals, but currently I favor a pro-declining scenario.

🥇 The scenario I'm playing is to wait for confirmation of a continuation of the upward or downward movement on higher intervals. 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.

🥇 Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.

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4 févr. 2023

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