Wed, 03 Mar 2021 09:31:46 GMT
Gold reveals channel down pattern
The yellow metal's recovery found resistance in the 1,740.00 level. Meanwhile, the price almost ignored the 55-hour simple moving average and the 38.20% Fibonacci retracement level. Namely, round price levels managed to provide more impact than technical indicators.
In the meantime, the recent low levels were used to draw a channel down pattern, which has guided the metal since early February.