🥇 Gold Chance For A Correction 🥇

🥇 Gold Chance For A Correction

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

🥇 Nearest strong resistance zone: area of recent peaks.

🥇 Technical environment:

- Moving averages: Uptrend

- MACD: Downtrend

- RSI: Downtrend

🥇 Price action: Gold has been falling all day today, is this a chance for the beginning of a larger correction? Certainly, it is impossible to talk about a guaranteed change in the trend, so far on gold I am waiting for more movements, perhaps an attempt to attack the peaks again, if such an attempt is unsuccessful, I would be more inclined to expect declines. For now, time must play a key role.

🥇 The scenario I am playing out is to wait for the formation of a larger candlestick formation that would represent the lack of strength of buyers. 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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