🥇 Gold Time for Growth 🥇

🥇 Gold Time for Growth.

🥇 Nearest strong support zone: around the fibo 0.5 level of the downward wave.

🥇 Nearest strong resistance zone: around the 0.618 fibo level of the declining wave.

🥇 Technical environment:

📊 Moving averages: 50/50

📊 MACD: Uptrend

📊 RSI: Downtrend

🥇 Price action: Gold is preparing to break out. After I wrote in the last post the probable arrival at the vicinity of the support zone, today it happened. Currently, I do not see any further possibility for the continuation of declines, I expect the execution of an upward correction that can take us to the area of resistance established on the basis of the fibo level 0.618 of the downward wave.

📈 The scenario I am playing out is the start of an upward correction. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.

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