Long-term technical analysis of gold
In the daily chart, we see the formation of the Double Top pattern, but the breaking of the support price range of 1676.15 completes this pattern, and if the price manages to break this critical range, it can fall in a downward trend to the level of 1555 dollars and 1450 dollars per ounce.
In the 4-hour chart, if the support range of $1,723 per ounce is broken, the price can continue downward to $1,680.
Also, the dollar index is increasing, which can contribute to the drop in the price of an ounce of gold
In the daily chart, we see the formation of the Double Top pattern, but the breaking of the support price range of 1676.15 completes this pattern, and if the price manages to break this critical range, it can fall in a downward trend to the level of 1555 dollars and 1450 dollars per ounce.
In the 4-hour chart, if the support range of $1,723 per ounce is broken, the price can continue downward to $1,680.
Also, the dollar index is increasing, which can contribute to the drop in the price of an ounce of gold