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After the release of economic data on retail sales, we come to technical analysis, we see that there is a price channel, where the price touched the top of the channel and then bounced from it, the price below an important level of 0.236 Fibopanchi, so we support further price decline, at least to the bottom of the drawn channel.

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As we see here we have AB=CD model Fibonacci is supporting our chart 📉 by moving prices with strong levels like 0.50 ,0.60,0.38 fibo levels Now we will countinu to the next point (D)

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We see the gold break all last levels Now we still moving up to the next strong level Probably we will see retest form here

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The answer is determined by the 0.61 Fibonacci level ;)

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Technically after the strong correction from the 0.38 Fibonacci area We are now facing the rising trend line The important thing here is to break the next resistance level to see more rise In the end, it is just an analysis that may be right or wrong, and this is for credibility

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As you know, gold is considered a safe haven and is considered the most important one. So are we witnessing new prices directly, reaching historical prices, or do we return to the correction?

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After touching level 45, let's take a look at the next corrective levels