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Gold

After investigating a peak of 4166 on Wednesday, the price began to fall sharply and relatively in Thursday’s session, which so far is considered a correction of the rise as long as the price holds above the demand levels between 4017 and 4004

Positive divergences began forming at the current 4024 resistance, which is likely to push the price higher again toward the upper edge of the channel at 4060. If it breaks through, the movement extends to 4078 and 4110, so the movement will be assessed at each level

While breaking the 4000 level opens the possibility that the latest uptrend has ended, along with increased selling pressure to test the last lows, at minimum

A note of caution remains regarding fake breakouts resulting from the sharp volatility, especially as the date of the US Federal Reserve approaches next week
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