GOLD may reach 1600-1580 if 1670 broken. 12/8/21

12 Ağu 2021

GOLD Price might be reaching at around 1600-1580 if weekly support at 1670 broken. As price could form a double zig zag pattern WXY (Red Circled). 1600-1580 (zone area) are confluence of 1) Weekly 233 EMA Line 2)Weekly Trend Line 3)Fibonnaci 50% up trend pullback Retracement since 2015 low 4) Lowe Trend Line of the downward parallel channel.