Gold price continue its downtrend, a rising wedges pattern spotted early this week is valid and bring downfall for gold price tonight.
Gold price down, usually US Dollar will rise. But it is not happen tonight. Something that I am wondering…why why..why.
For long term target I am still expecting further bearish for gold, meaning that gold price will go down a little bit more. Retracement at 50% fibonacci retracement on the chart, so if gold price do follow the fibo rules, it will down to 1327.50. About 2900 points from here.