GOLD → The fall continues. Target 1828, 1812 and 1800

2. Okt. 2023

XAUUSD has been making a new downward jump since the opening of the session on Monday. The strong distributive move continues. The price is approaching an important area

The chart shows an important liquidity area, but not the final one (1800). At the moment I am interested in the 1828-1812 area. The nearest support line may be tested soon, followed by a correction before further decline. The strong bearish trend continues in the market on the back of DXY strengthening. ISM Manufacturing PMI & Prices are released today, as well as FED Chars Powell speaks. It is worth paying attention to these releases. From the technical analysis point of view, I will wait for a bounce from 1828 towards the nearest resistance to increase liquidity, after which the price will continue another decline towards 1812 and 1800. The moving averages are showing a strong trend and there is a strong signal on D1

Support levels: 1828, 1812
Resistance levels: 1846
I expect a continuation of the fall in the medium term. Before the further fall, a pullback may be formed, watch the price reaction to the marked levels

XAUUSD MGC1! GC1! XAGUSD SI1! DXY

Regards R. Linda!