🥇GOLD → Resistance stops a strong trend
Gold is correcting after a false support breakout. We may see a flat formation inside 1984-1853. Support may be tested soon, which will push the price upward
TA on the high timeframe:
1) Strong bullish trend and correction after a false breakdown
2) The dollar index is standing still, which makes many doubtful. This is also negative for gold
TA on the low timeframe:
1) False break of resistance and price falls to 1953.
2)If a false breakdown is made, a local rise to 1984 will begin
3) This will confirm the flat boundaries and determine the future direction of the price.
Key resistance: 1984.425
Key support: 1953.055
TA on the high timeframe:
1) Strong bullish trend and correction after a false breakdown
2) The dollar index is standing still, which makes many doubtful. This is also negative for gold
TA on the low timeframe:
1) False break of resistance and price falls to 1953.
2)If a false breakdown is made, a local rise to 1984 will begin
3) This will confirm the flat boundaries and determine the future direction of the price.
Key resistance: 1984.425
Key support: 1953.055
❤️ Telegram channel: t.me/AndeWave
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
❤️ Telegram channel: t.me/AndeWave
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.