🥇 Gold Ahead of The 0.618 Fibo Level 🥇

🥇 Gold Ahead of The 0.618 Fibo Level.

🥇 Nearest strong support zone: around $1840 fibo level 0.5 of the entire downward wave.

🥇 Nearest strong resistance zone: around 1890$ fibo level 0.618 of the entire downward wave.

🥇 Technical environment:
- Moving averages: Uptrend
- MACD: Uptrend
- RSI: Uptrend

🥇 Price action: Gold has been in a strong uptrend for quite some time now, all thanks to capital outflows from the US Dollar. It has already made an increase of 15.79% since its bottom. But it is still more than 10% short of the ATH. Ahead is a strong resistance zone looks like it may play an important role in the current uptrend. It is the 0.618 level of the entire downward wave from peak to bottom. It is located in the vicinity of $1895 and has been a strong zone of struggle between buyers and sellers many times in the past.

🥇 The scenario I'm playing is the continuation of growth at least to the vicinity of the resistance zone. Where I will watch to see how the price will react. 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.

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