Last week, gold price experienced a significant drop as the U.S. presidential election came to an end.
With the current data, about the code of price, t2 position has been confirmed and prices are now moving in an a-b-c wave.
The trend remains downward, although it has shown signs of plateau, we’ll be waiting for the price to recover to the resistance convergence zone around 2685 before continuing to follow the downtrend.
Because gold prices are directly impacted by the dollar, it’s essential to follow strict risk management practices to guard against dollar volatility, especially in the early stages of the new presidency.
Wishing all investors intelligent and effective investment strategies! And stay tuned for the next gold price updates.
By. Pham Thanh Bien
