Gold Ends Parabolic Rise At $2,685 (Support Range Revealed!)

27 de set. de 2024

It did go for longer than expected, I'll give you that. The market always moves further than what we think. The same works in reverse. When the correction starts to unravel, it tends to go further than anything we calculate.

➖ Gold (XAUUSD) went through a parabolic rally and hit a new All-Time High of $2,685. This produced a rising wedge pattern and other classic bearish signals such as decreasing volume now compared to the March 2022 high.

➖ Gold is going back to baseline. It has been growing since November 2022 and the whole accumulation range between August 2020 and October 2022 becomes the support range. So Gold is moving back to a price between $1,650 and $2,100.

Thank you for reading.

Namaste.