[chanolja] Gold Futures Analysis

Hello, it's CHARNZA. Let's play.

Today, I would like to do a mid-term gold analysis.

Gold rose to near 1710

Adjusted to 1461.5 with the fall of Nasdaq

After that, it recovered to the 1650 level again, showing a strong trend.

As you all know, gold is considered a safe asset that goes up when the stock market falls, but it made a move to fall in the stock market crash including Nasdaq.

Therefore, this trader may be reversed in a framework in which the correlation between gold and stock market is large, but we will proceed with trading as it is not related to trading at all.

Gold is currently moving for a few days near Fibonacci 78.6%, near 1650.

Since it exceeded 1615.1, which is the standard of the downward wave, it can be regarded as a half spot that can rise or fall according to international news.

It is recommended to check the main support / resistance rather than to buy and sell, and to engage in trading.
The section that appears to be a strong support is between 1580 and 1600.

I hope you find this helpful by referring to the sale. Thank you