Gold is currently retesting a former support level, which has now turned into a significant resistance zone.
I expect a continuation of the decline. It looks like the commodity market may face a broad-based pullback, partly due to the strengthening DXY.
I don’t see this correction as a trend reversal — rather, it’s a natural move after a strong rally.
So, if you're considering short positions, caution is advised.
I'm expecting the price to move toward the area of 3100-3125.
I expect a continuation of the decline. It looks like the commodity market may face a broad-based pullback, partly due to the strengthening DXY.
I don’t see this correction as a trend reversal — rather, it’s a natural move after a strong rally.
So, if you're considering short positions, caution is advised.
I'm expecting the price to move toward the area of 3100-3125.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.