Tue, May 30, 2023 @ 05:51 GMT
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Gold pressing 1800 as decline continues

Gold’s decline resumes after brief support from 100% projection of 2070.06 to 1889.79 from 1998.23 at 1817.86. It’s now taking on 1800 handle and there is no clear sign of bottoming yet. Further fall is expected as long as 1858.57 resistance holds. Next target is 161.8% projection at 1706.55.

Also, the whole fall from 2070.06 is seen as the third leg of the consolidation pattern from 2074.84 (2020 high). It would eventually target 1682.60 support to complete the pattern.

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