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⏰ Event Period: May 8, 8:00 AM – May 18, 6:00 PM (UTC)
Did gold plummet when the war ended
What do you think of gold?
After a bullish move and a break above an ascending trendline, gold has entered a correction phase. Currently, prices are below a key resistance level, in line with the 78.6% Fibonacci retracement level. This area is a strong resistance that could hinder further upward moves.
Prices are expected to react to this resistance level and enter a downward move.
If the above resistance level is decisively breached, the bearish scenario will lose its validity and the likelihood of a sustained upward move will increase.
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（Source from: TV-By tradermarkriverag）