$XAU 1W
Locally, pressure from sellers remains on gold.
I expect the current correction to finish with a move into the $3627 area, so for now the priority remains short-term shorts.
This scenario also aligns well with a likely test of the MA100 on the weekly time frame before the main uptrend resumes.
At the same time, my global outlook hasn’t changed.
On the contrary, I see the decline as an opportunity to gradually build a medium-term long position.
After the correction is over, I continue to expect a recovery of the uptrend with targets around $4857 – $5000.
#gold
Locally, pressure from sellers remains on gold.
I expect the current correction to finish with a move into the $3627 area, so for now the priority remains short-term shorts.
This scenario also aligns well with a likely test of the MA100 on the weekly time frame before the main uptrend resumes.
At the same time, my global outlook hasn’t changed.
On the contrary, I see the decline as an opportunity to gradually build a medium-term long position.
After the correction is over, I continue to expect a recovery of the uptrend with targets around $4857 – $5000.
#gold