Consolidation not because the market is exhausted, but consolidation before Wednesday - a rather rich news day.
A triangle is forming locally, but it doesn't mean anything, the more important figure is flat 3193.46 - 3245.40.
Most likely, in order to accumulate liquidity, gold will make a correction to the support in the Asian session and only then will consider the growth.
Scenario: Gold is in consolidation (boundaries are indicated on the chart). We have neither support nor resistance tested. I am waiting for a false breakdown of 3193 before rising. (or a false breakdown of 3167 (retest and confirmation of the strong zone) before the rise)
A triangle is forming locally, but it doesn't mean anything, the more important figure is flat 3193.46 - 3245.40.
Most likely, in order to accumulate liquidity, gold will make a correction to the support in the Asian session and only then will consider the growth.
Scenario: Gold is in consolidation (boundaries are indicated on the chart). We have neither support nor resistance tested. I am waiting for a false breakdown of 3193 before rising. (or a false breakdown of 3167 (retest and confirmation of the strong zone) before the rise)
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❤️ Telegram channel: t.me/AndeWave
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.