Gold can resume its down move

26 Ağu 2022

Since the low made at the beginning of the week, Gold has started to correct and has risen towards important 1770 resistance, just to reverse back down after reaching 50% Fibo of the 1800-1730 drop.
In my opinion, the recent rise is just a correction and we can expect Gold to resume its down move soon.
That being said I will look to sell rallies near resistance with a target in the previous low.
Negation comes with a daily close above 1770