Gold prices are attempting to correct higher following strong daily supply. The 4-hour environment is bullish while the price holds above support. The price of the yellow metal has been under pressure of late and is attempting to correct the supply. The following is an analysis of the daily chart that offers a bearish bias from a 61.8% Fibonacci retracement. Daily chart The price suffered a strong blow to the downside for which has been corrected twice. The latest correction has met a 61.8% Fibonacci retracement. This raises the prospects of a downside continuation. 4-hour chart However, the bulls are above structure and the 20 moving average. Until the bears take out the support, the price can easily continue higher within the correction. 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 China’s Commerce Ministry: Yuan seen weaker at 6.5-6.8 vs. USD in 2021 FX Street 2 years Gold prices are attempting to correct higher following strong daily supply. The 4-hour environment is bullish while the price holds above support. The price of the yellow metal has been under pressure of late and is attempting to correct the supply. The following is an analysis of the daily chart that offers a bearish bias from a 61.8% Fibonacci retracement. Daily chart The price suffered a strong blow to the downside for which has been corrected twice. The latest correction has met a 61.8% Fibonacci retracement. This raises the prospects of a downside continuation. 4-hour chart However, the bulls are… 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.
