Current technical outlook 2/24
The metal maintained the bottom of 1300 to continue to rise and achieve its main objective in the near term 1341 and 88.6 levels for the downside wave 1365 1161.
The candle meteor on the weekly and negative on the daily model in addition to the negative variation on the MACD indicator increases the negative pressure on the metal to target 1309 in the short term and support 1300, and by successfully breaking this last support opens the way for further decline and targeting 1289.
The breach of the peak 1347 is necessary to target 1352-1358
Time AnalysisGold walks in to the eight-day format
In the event that it can break the trend and main support 1300, we increase the sales contracts with the stop above 1316 and targets 1284 - 1291