Currently, gold is undergoing a phase of change of character from an uptrend to a downtrend for swing correction on a higher timeframe. The price is again trying to complete the CHOCH test and it is wiser to be more patient to wait for confirmation of a short entry.
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currently the price touched the Fibonacci 38.2 level and made a technical correction before continuing the decline to test the demand area which is also within the Fibo 50 range.