GOLD Might be Moving Down Towards 1940

GOLD Technical Analysis

• Move down is possible
• 1940 is coming soon
• Trend line break towards
• M L3 support

Daily Chart GOLD

1. Swing high
2. Swing low
3. 1-2-3 pattern
4. Target

Market might be coming down as we have multiple hints it should drop. We can see the 1-2-3 pattern formed while the price is around 1951. Next target is 1945 followed by 1940. If 1940 breaks then the way towards 1887 is open but it will also depend on the geo-political situation of Russia and Ukraine.

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Cheers and safe trading,

Nenad