GOLD: Price Rebound on 61.8% FIBO AB=CD As PredictYesterday.

Hey there! So, it looks like the price of gold has gone down a bit after reaching a three-week high. This might be because people are feeling cautious about upcoming events and data, and also because United States Treasury bond yields have gone up again. There are a few things that could impact the price of gold in the coming days, like some news from China and what Federal Reserve Chairman Jerome Powell has to say in his testimony before the Senate Banking Committee. Some people think his comments might be a little negative for gold prices, but others are feeling hopeful because the US dollar hasn't been doing great lately and some recent US data has been a bit mixed. All in all, it's a bit of a mixed bag!

As we described yesterday, the price could have a rebound on the 50% to 61.8% Fibonacci level for a new short setup, and this is what happened. A possible AB=CD pattern may cause a continuation of the short setup that we have started from the SELL signals of the ISOFOREX indicator. We are looking for a bearish trajectory

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