Gold: ⬇️ Sell
- Gold broke support zone
- Likely to fall to support level 3100.00
Gold recently broke the support zone between the support level 3270.00 (former low of wave a from the middle of April), upper trendline of the daily up channel from February and the 38.2% Fibonacci correction of the upward impulse from the beginning of April.
The breakout of this support zone should accelerate the active short-term ABC correction 4 from the middle of April.
Gold can be expected to fall to the next support level 3100.00, which is the target price for the completion of the active ABC correction 4.
, upper trendline of the daily up channel from February and the 38.2% Fibonacci correction of the upward impulse from the beginning of April.){kind=link}