Technical Analysis

Gold Retested The Broken Support


Price dropped after the retest of the first warning line (WL1) of the major ascending pitchfork. The downside was paused by the strong support area near the 50% Fibonacci retracement. Only a valid brekdown below the 50% level will announce a further drop. A USDX's breakout above the 93.81 static resistance will send it towards the $1248 per ounce.

Author: MultiBank Exchange Group Website:
MultiBank Exchange Group
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.
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