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- 📢 #Gate Square Writing Contest Phase 3# is officially kicks off!
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- 🎉 [Gate 30 Million Milestone] Share Your Gate Moment & Win Exclusive Gifts!
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Did gold plummet when the war ended
What do you think of gold?
After a bullish move and a break above an ascending trendline, gold has entered a correction phase. Currently, prices are below a key resistance level, in line with the 78.6% Fibonacci retracement level. This area is a strong resistance that could hinder further upward moves.
Prices are expected to react to this resistance level and enter a downward move.
If the above resistance level is decisively breached, the bearish scenario will lose its validity and the likelihood of a sustained upward move will increase.
Don't forget to like and share your thoughts in the comments!
（Source from: TV-By tradermarkriverag）