FX.co ★ Gold is heading for a mid-term decline

Gold

Gold has received impulses from key technical instruments twice in the last 3 weeks: the first time from the MACD line (red arrow), the second time from the Fibonacci channel line (blue arrow). After the second decreasing impulse, the marlin oscillator moved to the decline trend zone. The price is below the balance indicator line. In this case, the decline targets are determined by the Fibonacci channel lines: 1266.0 and 1231.00. Depending on the pace of the price's decline, the targets can be adjusted.

On the H4 graph, the price is falling below the balance lines and MACD, the marlin oscillator is in the decline zone, there are no reversal signs.