Sun, Dec 04, 2022 @ 08:09 GMT

Gold Slips Lower

The yellow metal is trading in the red again and resumes the yesterday’s bearish candle, is going down as the USDX has managed to force the USD to appreciate a little ahead the FOMC.

Price decreased after the failure to reach and retest the outside sliding line (SL) of the major descending pitchfork and now is pressuring the 38.2% retracement level and the warning line (Wl1). Could come even to retest the upper median line (UML) and the sliding line (ascending dotted line) before will climb much higher. Only a drop below the SL and inside the major descending pitchfork’s body will confirm a larger drop in the upcoming weeks. I believe that only the fundamental factors could force the rate to drop sharply.

MultiBank Exchange Group
MultiBank Exchange Grouphttp://www.mexgroup.com
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.

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