Gold had a downturn at 19,19% and stayed in correction sentiment, but were close to bear sentiment (20%+ fall in price from the top) .
Around price 1676$ it saw massive technical support. The technical support where in these 3 types:
- Trendline from previous lows.
- Fibonacci 0,618 based on lows from March 2020.
- Bollingerbands 1000,3 based on 4-hour chart....
We discussed this market last week and the important intraday resistance level we were hunting short trades.
After selling off twice at this level, price is now once again looking to make another test.
Looking at the longer-term charts the trend is clearly lower and this level looks key.
This market is now attempting to make a reversal back higher and a break...
