Beautiful pattern setup
Following the short -term barn signs today, a deeper pullback may continue. Lower than today's 2,791 lowest prices will cause a decline, and at least a temporary top will be established at the high price of today. In addition, it will probably lead to deeper pullbacks and low prices. Howac is much lower and I can't see it yet.
There are several major trend support areas that need to be considered for potential support. The first goal is MA for 20 days, currently 2,717. As the 20 -day line is rising, the price level it represents increases. The nearby moving average is a small rising line that can be used with MA for 20 days, and you can achieve additional guidance if you have an approach.
Level to watch if pullback continues
Further below is a more important potential support around MA for 50 days, now 2,672. Because it is used to identify the intermediate trend, the potential importance is greater than the 20 -day line. It has recently begun to move from an integrated zone, which has little effect and low reliability.
However, along with the previously provisional swing 2,726 (B), the potential support level before watching is a recent swing low of 2,731. Previous resistance levels could be supported when descending, and how gold prices react to those price areas can provide clues to changes in supply and demand.
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