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DeGRAM | GOLD fibo golden zone

Short
Gold Spot / U.S. Dollar (OANDA:XAUUSD)  
DeGRAM Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Chart Patterns Support and Resistance goldanalysis goldsignals
46
3
trendanalysis chartpattern supportandresistance goldanalysis goldsignals
GOLD moved out of the descending channel, and it's approaching the 61.8% fibo level.

The market made a double top with divergence. Price is overextended.

We anticipate a bearish move from resistance and the fibo golden zone.


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Comment:
snapshot
GOLD is trading in the ascending channel. It created divergence at the resistance level 2030.

The market rebounded from the level and closed below it, creating a false breakout.

Price decelerated while approaching resistance, so most likely it will go down.

We expect a retest of the higher low.
Trade closed: target reached
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