Gold movement

The yellow metal fell from the top at 1326 and angle 135 after it formed a weekly reflective candle (HANGING MAN) and with stability below 1320, it is expected that gold will continue falling targeting Fibonacci 23.6 for the wave 1160 - 1327 at 1295, and breaking it would extend the downside targeting the main bottom 1276.

It is worth noting that breaking 1276 opens the way to levels 1262 and 1245 to re-test the main trend and the daily average test of 200 as in the above drawing and on the smaller frames we attach the following drawing

Gold is trading sideways targeting 1301 and 1286-1290 with stability below 1320 in the pentagon form above.

Peak breach of 1326 opens the door for resistance 1341 which represents 88.6 for wave 1164 138.5.5

good luck

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Gold movement

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