Since our last analysis, gold has been trading downwards. The price tested the level of $1,129.22. The intraday trend is downward, so watch only for selling opportunities after retracement. In the daily time frame, we can observe a supply bar in an average volume. In the M15 time frame, we can observe a successful rejection from a point in the control zone ($1,145.80). According to the daily price action, we got support levels at t$1,121.50 and $1,102.00.
Daily Fibonacci pivot points :
Trading recommendations: Be careful when buying gold at this stage and watch for potential selling opportunities after retracement.
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