InvestMate 🥇 Gold Continues Attacking South 🥇

8 Feb 2023

🥇 Gold Continues Attacking South

🥇 Nearest strong support zone: around the 0.236 fibo level of the upward wave.

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

🥇 Technical environment:

📊 Moving averages: Downtrend

📊 MACD: Uptrend

📊 RSI: Downtrend

🥇 Price action: gold once again a day in a row failed to find enough strength to generate an upward impulse. Therefore, my scenario remains unchanged and I still believe that we still have space for declines. We have formed something like an upward channel. Such a formation mostly continues the already established trend, which only increases the likelihood of a downward scenario.

📉 The scenario I am playing out is a continuation of the declines. 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.

🚀 If you appreciate my work and effort in this post, I encourage you to leave a like and follow on my profile. 🚀

9 Feb 2023

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