A weekly downtrend has been broken.
The possibility of tightening monetary policy increases.
The price corrected to the 38.2 Fibonacci level for the rise from 8/2018 to 8/2020.
Falling again to 1700 levels and staying below it supports the following view:
We expect the correction to continue to levels 50 and 61.8. At the same time, these levels are the levels of point D in a potential Perfect Bullish Gartley pattern.
The possibility of tightening monetary policy increases.
The price corrected to the 38.2 Fibonacci level for the rise from 8/2018 to 8/2020.
Falling again to 1700 levels and staying below it supports the following view:
We expect the correction to continue to levels 50 and 61.8. At the same time, these levels are the levels of point D in a potential Perfect Bullish Gartley pattern.