💵Update on gold views for the new week 💵

📉The current gold price is in a strong downward trend across multiple time frames. In the medium time frames, the target will be 3037 - 2986.

Currently, the price is respecting the trendline convergence between H1 and H4, indicating a clear downtrend.

However, in the M5 and M15 time frames, there are short-term upward trends. In the M30 frame, the RSI is between MA9 and MA45.

=> Therefore, at the beginning of next week, gold will experience a rebound. The short-term target is the FVG in the H1 frame around 3260 - 3265; if it can break through, it will aim for the 3316 - 3329 range. 💰

The long-term view will still be bearish, so respect the trend in the larger time frames. Scalp trades should have clear stop losses, and targeting sell points will be safer.

🐋This analysis is based on personal opinion. It is not investment advice. Please manage your wallet responsibly.