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GOLD Might be Moving Down Towards 1940

By
Nenad Kerkez
Published: Apr 21, 2022, 08:59 GMT+00:00

Market might be coming down as we have multiple hints it should drop.

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.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

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