Gold is approaching the limit of a pullback! Keep a close watch on 4090—once it breaks, be ready to buy a bottom at 3800!
$XAU The gold started accelerating its decline after it broke below the key support range of 4230 on the smaller timeframe. The short-term low quickly dropped to around the pullback limit of 0.8. 4090 will also be the next key support level to watch in the short term. If it breaks, the rebound ends and a new downward leg begins to search for a bottom again!
If this wave breaks the support, then below, I will begin positioning long orders at 3800!
$XAU The gold started accelerating its decline after it broke below the key support range of 4230 on the smaller timeframe. The short-term low quickly dropped to around the pullback limit of 0.8. 4090 will also be the next key support level to watch in the short term. If it breaks, the rebound ends and a new downward leg begins to search for a bottom again!
If this wave breaks the support, then below, I will begin positioning long orders at 3800!
