🥇 GOLD What to expect from the correction? Growth?!

2023年2月9日

The gold is in the correction phase, but something tells that the price will not go higher than 1890, and rather it will break the support of the local rising correction and will go towards 1840-1830 area

1) The price is slowly consolidating around 1875, there is no growth and no fall, the ostensibly-visible local lifting is formed in the channel, but it does not say anything about the bulls' strength
2) In a standard situation, when the market is balanced or there is a strong buyer, then the fall, which was a few days ago, would have been bought out long ago
3) There is a potential for a strong fall when the area 1870-1865 is broken through
4) The situation reminds a banal development of the correction wave ABC, where the stage "B" is formed at the moment

I recommend to buy cautiously and to start to build a strategy for finding entry points to sell

2023年2月10日

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