Risk aversion fades, gold may face technical retracement

Although gold fell slightly throughout the day yesterday, it generally showed a volatile downward pattern. It fell below multiple key positions in a row and finally closed out a big negative line. Under such circumstances, it is obviously unrealistic to expect to return to 2000.
The price of gold has completed the construction of a double top pattern, which supports the expectation that gold prices will continue to correct the bearish scenario, with the first target being to test 1963. If gold prices fall below this level, this will push the price of gold to the next bearish target of 1960.

Trade aktif:

The first goal of 1963 has been achieved. Keep following up.