Gold continues to fall after the recent breakout of the combined support area lying at the intersection of the key support level 1210.00 (former major resistance from August and September) and the 50-day moving average.
The breakout of this support area should accelerate the active short-term corrective wave B – which belongs to the medium-term ABC correction (B) from August.
Gold is expected to fall further and re-test the next support level 1180.00 (former support from October and the target price for the completion of the active wave B).
JPMorgan Chase: ⬇️ Sell - JPMorgan Chase reversed from resistance area - Likely to fall…
EURUSD: ⬇️ Sell - EURUSD reversed from resistance area - Likely to fall to support level…
AUDJPY: ⬆️ Buy - AUDJPY reversed from support area - Likely to rise to resistance…
Palladium: ⬆️ Buy - Palladium broke multi-month resistance level 1600.00 - Likely to rise to resistance…
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