Gold Analysis (Expect More Falling)!!!

Gold has managed to break the Support zone($2,337-$2,318) and 50_SMA(Daily).

According to Elliott's wave theory, Gold is completing its next 5 downtrend waves.

It is possible to form a Descending Channel, Gold can react to the lower line of the descending channel.

I expect Gold to continue falling to the next Support zone($2,272-$2,248).

Gold Analyze ( XAUUSD ), 4-hour time frame ⏰.

Do not forget to put Stop loss for your positions (For every position you want to open).

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Comentário:

As the week begins, I expect gold to have a temporary rise and fall again.