FX.co ★ XAU/USD, GOLD

GOLD is in the area of the reversal level boundary 7/8 (4375.00). No significant changes are occurring. As priority decisions, in terms of prospects, the following trading steps are being considered: in the short term – a downward movement of gold towards the even level 6/8 (3750.00). in the medium/long term – an attempt to develop a downtrend with the main goal of reaching the main support/resistance level 4/8. Reaching the boundary of the reversal level 7/8 (4375.00), breaking it from top to bottom, and consolidating the price below this boundary. Renewal of GOLD’s local low of the medium-term perspective – the medium-period ZZ and the value of the lower control point of 165471.0 points. Reaching the boundary of the even level 6/8 (3750.00), breaking it from top to bottom, and consolidating the metal below this boundary. Reaching the boundary of level 5/8 (3125.00), breaking it from top to bottom, and consolidating the quotes below this boundary. The nearest target of the downward movement is the boundary of the reversal level 7/8 (4375.00) itself. The scheme adopted as guidance and execution for the short/medium/long term remains the same.