Gold price fell about 30 USD from last week's close before a series of positive economic and labor reports. This is the second week in a row that gold has witnessed such a deep drop.
Gold is still following the Parallel Downtrend structure, only when Gold breaks the above trend and trades stably at the level of 1930USD will the Uptrend be established.
In the first trading session of the week, trading strategies will prioritize buying retracement waves along the lower Trend edge, where there is an important Trend + Keylevel confluence H4
Gold is still following the Parallel Downtrend structure, only when Gold breaks the above trend and trades stably at the level of 1930USD will the Uptrend be established.
In the first trading session of the week, trading strategies will prioritize buying retracement waves along the lower Trend edge, where there is an important Trend + Keylevel confluence H4
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Precious metal prices are considered difficult to rebound strongly in the context of the USD recovering and not having many supporting factors.
