Bulls have rallied into a supply zone on the daily chart. Gold is on the verge of a significant correction at this juncture. The price of gold has been on full throttle to the upside but has run into a wall of resistance and the focus is now on a sizeable downside correction. Daily chart The daily support is a compelling target that can be monitored from a vantage point on the lower time frames, such as the hourly. Hourly chart The price is already in decline and could be expected to meet at least a 38.2% Fibo or a 50% mean reversion that has a confluence with the prior highs looking left. At that juncture, a continuation to the upside can be expected. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Forex Today: Risk appetite maintains the pressure on the dollar FX Street 2 years Bulls have rallied into a supply zone on the daily chart. Gold is on the verge of a significant correction at this juncture. The price of gold has been on full throttle to the upside but has run into a wall of resistance and the focus is now on a sizeable downside correction. Daily chart The daily support is a compelling target that can be monitored from a vantage point on the lower time frames, such as the hourly. Hourly chart The price is already in decline and could be expected to meet at least a 38.2% Fibo… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
