The global ounce of gold is on a downtrend (correction), the downtrend line is broken but the price is still moving below $ 1830. If the price stabilizes above 1830, we can have the first long-term trend changes.
But looking at the valid moving averages 50 and 100, which are very useful numbers in gold , we notice a negative failure in these two moving averages, but the important point is the breaking point of these two averages, which is done at $ 1773 and has become an important area. It has been said that the essence of this area is for resistance, that is, first confirming the price to come down and then resistance at the desired price.
But the key support of $ 1690 after the failure of support 1760 is very important.
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