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