Could Gold slide below 3000?
On the monthly charts, price action shows an imbalance when Gold surged to 3500. Equilibrium must be restored and price action suggests, Gold has to correct by mitigating demand at 2700 price levels. On the weekly and daily charts, there are signs of price weakening suggesting a reversal is not so far. On the daily chart, Gold has mitigated a short term FVG and formed an intermediate low. Once this low is broken, it will confirm our reversal of Gold targeting the monthly FVG at 2760
On the monthly charts, price action shows an imbalance when Gold surged to 3500. Equilibrium must be restored and price action suggests, Gold has to correct by mitigating demand at 2700 price levels. On the weekly and daily charts, there are signs of price weakening suggesting a reversal is not so far. On the daily chart, Gold has mitigated a short term FVG and formed an intermediate low. Once this low is broken, it will confirm our reversal of Gold targeting the monthly FVG at 2760
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.