Looking back at last week, we can observe a significant decline in gold price, touching the technical support convergence zone of $1970-1997/oz from 1970 to 1997.
This suggests that the market is about to reverse and experience a strong increase as it enters the third phase of the million-dollar pattern. Furthermore, the trend of the US dollar index also supports the upcoming growth of gold price.
Remember that discipline is crucial; avoid FOMO (Fear of Missing Out) and wait for price confirmation and the formation of reversal patterns. Only by prioritizing patience and waiting for buying opportunities can we participate effectively in the market.
Stay tuned for more detailed updates next week. Wishing investors insightful and successful investment deals.
By. Pham Thanh Bien
