Gold Forecast: Gold Under Selling Zone

Gold Forecast: Gold (Yellow Metal)Under Selling Zone – On the daily chart, the third wave of the higher level (3) formed, a downward correction developed as the fourth wave (4), and the formation of the fifth wave (5) started.

Now, the first wave of the lower level 1 of (5) has formed, and a downward correction is developing as the wave 2 of (5). If the assumption is correct, the pair will fall to the levels of 1822.34–1794.47. In this scenario, critical stop loss level is 1909.68.

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Sell Gold Main scenario

Gold Short positions will become relevant during the correction, below the level of 1909.68 with the targets at 1822.34–1794.47. Implementation period: 7 days and more.


Buy Gold Alternative scenario

The breakout and the consolidation of the price above the level of 1909.68 will let the price grow to the levels of 1958.98–2067.60.

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