Gold may drop again from $1815/1825 price zone

1 Feb 2022

Hi everybody. Last week gold dropped nearly 750 pips. Technically it has more room to fall again. Gold is in correction mode after a significant drop. According to Fibonacci, gold may correct the 50 and 61.8% Fibo level.

If we take the high price at $1853 and the low price at $1780, then Fibo's 50% level is $1817.50 price zone, and 61.8% of Fibo's level is $1825.80 price zone. So, technically it is expected that gold may drop from those particular levels of $1817.50 or 1825.80 price zone.

And our target zone is $1780, and the final target zone is the 1760/1765 price zone.