The Further Downside Movement Of Gold Is Expected
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Technical analysis:
Gold has been trading upside but I found that price has reached important intraday resistance Fibonacci at $1.835/40 and there is chance for the further downside movement.
Due to the longer-term downside trend and the rejection of the Fibonacci, I see potential for the further downside movement.
Downside objectives are set at $1.805 and $1.770
DPO oscillator is showing extreme bull reading and potential for the downside rotation....
Key resistance is set at the price of $1.835/40
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