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In 3 days, gold collapsed 40-day increases, which is a dynamic correction. The saying goes: “The bulls are climbing the stairs and the teddy bears are jumping from the windows.” This means we often see a slow strengthening of the trading value and dynamic declines that cause panic. Despite the breakout after the downward channel, gold returned to it again. Currently, breaking the resistance zone and the channel at the same time may give a positive impulse for further increases. It would look something like this:
Then investors would have a lot of room to break the rate to new local peaks, and after breaking another resistance to historical peaks. I will provide the possible range again when the condition is met.
The second option is to try to attack the resistance level and drop further in line with a higher order trend. Possible entry after breaking the blue support and correction in order not to try to catch the tops. The correction does not have to be the same, it is also possible to try to raise the rate before the US data, but the principle of placing a position remains the same.
