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Gold is tired and continues to go into correction

Good afternoon

Gold still decided to form a bearish flag and go down to the resistance level of 1820.00, from which we should expect a potential upward rebound. At the moment, the decline in quotes is just a correction. In this case, it is worth focusing on candlestick signals:

The S&P500 index returned to the broken descending channel, at the touch point of which there is also a local uptrend. Friday closed with a hammer, which may mean a potential rise in quotes towards the horizontal 4200:

Gold is tired and continues to go into correction

The Eurodollar continues its corrective movement towards the support of 1.0350. There is also a broken descending channel. We leave the basic scenario the same – after the decline, we should expect the resumption of the upward movement:

Gold is tired and continues to go into correction

Oleg Svirgun, analyst at the brokerage company Tickmill


My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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