As you can see in the chart gold has crossed Fibonacci level 61.8% crossing all the hurdle and now heading to 78.6% of Fibonacci. As the gold is in between 61.8% and 78.6% which suggests and major resistance located at 1758. In this scenario, we can predict gold will catch downtrend.
Further, Gold is approaching its uptrend resistance, which is indication of downtrend.
Further, in its uptrend gold is in middle so this scenario generate dangerous position which suggest gold can reach up to 1777-1782 before taking a big dip.
IF FOMC increase the interest rate then the gold will take a big dip (99% is possible today)
Our academy points of views for today gold move
Sell Gold 1847-1858
TP1 1840
TP2 1832
TP3 1822
TP4 1802
TP5 1782
SL @ 1882
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