InvestMate|Gold Rebounding From A Resistance Zone?🥇

🥇Gold Rebounding From A Resistance Zone?

🥇Post is a direct continuation of my previous post:

🥇This time we will look at gold from a slightly closer perspective and try to determine the end of the current upward correction.

🥇Looking at the behaviour of the price and the lack of strength for further increases, the most reasonable solution will be to establish a resistance zone at 0.382 of the last downward wave.

🥇There is also the 50-period moving average in that area, which can provide strong resistance.

🥇The nearest support zone is the 0.382 level of the entire upward wave from the bottom.

🥇There we can expect some kind of demand reaction.

🥇The scenario I'm playing out is a rebound from the resistance zone and a continuation of the decline to the vicinity of the support zone. 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.

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