Gold has made its correctionback to FIBO 382 on weekly chart.This is a weekly bear evening star signal that we could now ignore.
The daily red channel seems possible.Price could rally up to B. But still need 2 more days to confirm.Now only a question where B could B.
Once B is confirmed on the middle line of the channel, gold only need to step to test 1140 later.
Step1: rest 1160,
Step2: break down through 1160 to test 1140 as a new bottom.
This idea is marked short based on weekly chart.
Less is more!
The daily red channel seems possible.Price could rally up to B. But still need 2 more days to confirm.Now only a question where B could B.
Once B is confirmed on the middle line of the channel, gold only need to step to test 1140 later.
Step1: rest 1160,
Step2: break down through 1160 to test 1140 as a new bottom.
This idea is marked short based on weekly chart.
Less is more!
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