Technical analysis of GOLD 05/04/2021
Gold quotes approached the key resistance of 1800, where they coincided (61.8% Fib) and (MA100). Now quotes have corrected to the area of 1750.
The technical picture suggests a breakdown of the resistance level of 1800 with the goal of rising to 1850, where the downtrend line of the daily timeframe and (MA200) coincide.
A signal to cancel the continuation of growth will be a decline of quotes below the annual minimum of 1677, what will indicate the development of a downward movement in the medium term.
Created by Joshua Hayn