Gold due for correction

30 сент.

Gold price is currently due for correction , Friday closing was bearish but still need more confirmation to see possible correction (Need one more day to close under PDL (2658 ), On price action it is clear that price is currently forming head and shoulder pattern and to validated this pattern price need to breakdown at least 2650 level , In Higher side price also facing resistance on trend line ; CPR is also in descending formation compared to last day; In lower side if we have watch weekly Support (2616.18); As everyone knows that the current bullish rally is supported by the middle east war so we have to keep eye on the development of any war related news, if we consider the war factor and higher TF then overall the price is still maintaining the bullish structure so correction side is limited but we can consider this correction as per current PA .