Gold Break Down : Hitting 7 Month Low. Crucial Support zone
GOLD(US$/Oz) stands at a 7 month low ever since March 2023. The precious metals commodity is standing at a crucial support levels of the channel ever since April 2023.
Although the charts shows momentum bottoming but the supply constraints and Macro factors may pull it down to levels of 1833,1806 post which we can see it pulling back to channel Trendlines again. The worst case scenario is still open for 1784 but for now that looks a less probabilistic from technical point of view.
Although the charts shows momentum bottoming but the supply constraints and Macro factors may pull it down to levels of 1833,1806 post which we can see it pulling back to channel Trendlines again. The worst case scenario is still open for 1784 but for now that looks a less probabilistic from technical point of view.
