Gold (XAU/USD) recently fell to $2,470.77, then corrected to $2,526.00. It's forming another downward wave targeting $2,480.20, with potential further decline to $2,435.55. The MACD, with a downward signal line above zero, supports this bearish outlook.
Following a correction to $2,526.00, gold may drop to $2,500.00, rise briefly to $2,513.33, and then continue its decline to $2,480.20. This suggests only a partial downward move is underway. The Stochastic oscillator, currently near 50, is expected to rise to 80, indicating short-term gains before the downtrend resumes.
Following a correction to $2,526.00, gold may drop to $2,500.00, rise briefly to $2,513.33, and then continue its decline to $2,480.20. This suggests only a partial downward move is underway. The Stochastic oscillator, currently near 50, is expected to rise to 80, indicating short-term gains before the downtrend resumes.
