Gold prices are approaching the selling zone near the levels of $2,300 per ounce and the levels of $2,400 per ounce.
It is preferable to sell gold during these levels, as the price of gold is expected to fall to the level of $2,050 per ounce in the short and medium term.
However, in the long term, it is expected that the price of gold will continue to decline to a Level of $1550 per ounce
Gold prices witnessed historic rises during the current month, and it is expected that gold prices will witness a significant decline during the coming period in the near term and in the long term.
It is considered an opportunity to sell gold now after the completion of the measured movements model.
The recommendation is to sell gold today from the level of $2340 per ounce, targeting the $2050 level to take profits while setting a stop loss above the 2500 level.
gold
sell from 2340
TP@ 2050
SL @ 2500
This recommendation is useful for trading in the medium and long term.
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