In the current market scenario, gold finds itself within what is commonly referred to as the "golden pocket," a term often associated with Fibonacci retracement levels. At this juncture, the price of gold has reached the 61.8% retracement level, known as the golden pocket, which signifies a potential point of interest for traders and analysts alike.
From the individual's perspective, there is a prevailing sentiment that the downtrend in gold's price may persist. This perception is rooted in the observation of the market dynamics and technical analysis, wherein the gold price has failed to exhibit a significant reversal from the aforementioned golden pocket level.
From the individual's perspective, there is a prevailing sentiment that the downtrend in gold's price may persist. This perception is rooted in the observation of the market dynamics and technical analysis, wherein the gold price has failed to exhibit a significant reversal from the aforementioned golden pocket level.
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Consolidation as the market gathering some energy before making a bigger move either up or down. Imagine it like a quiet moment before the next exciting part of a story.
Good luck!
Good luck!
TP - 1865
SL - 1910