All articles tagged with #correction phase
Gold prices have fallen nearly 2% as market concerns ease and the Federal Reserve maintains current interest rates. The metal's decline comes after a period of record accumulation and a failed attempt to break above the $2,000 per ounce mark. Analysts are now observing a potential correction phase and are curious about gold's performance if it drops to around $1,940.
Tesla's stock is approaching crucial support levels, indicating potential turbulence for investors. Market technician Frank Cappelleri warns that the stock may crack its steep upward trendline, which has triggered downside actions in the past. Tesla shares, which recently surged to around $280, are now on the verge of dipping below $260, with a potential next support level at $240. The recent weakness is not due to the company's performance, but rather a correction phase in the market. Analysts suggest that Tesla's key support lies near $218.