Gold Forecast: Correction Underway?
Gold has approached the uptrend. However, the asset is likely to break the trend and head down due to the formed double top. Should the asset break the uptrend, it might rebound back to the broken trendline, that is, the level of 1980, and drop. So, let’s observe what will happen.
American stock index S&P500 rebounded from the broken side of the diamond and tried to break the resistance level of 4195 at the end of the trading week. The asset’s price might test the level of 4300 but this matter remains to be seen.
The price of Bitcoin might rebound from the boundaries of the range formed between the levels 25200 and 30000. Currently, Bitcoin is moving close to the lower boundary of this range; therefore, the asset’s price might potentially rebound from it.
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