Gold is ready to test resistance for reversal
Updated
Gold has no clear trend. Globally, the price is in a sideways flat. It cannot be called an accumulation, but just a range. There is news ahead, which can generally set some tone for the market.
Recently, the price has been growing exclusively on geopolitical nuances: the Middle East, problems in Europe, China started buying metal again.
The negative background is created by Trump's policy towards the dollar and inflation.
Scenario: This resistance was last tested in the middle of last month and there is no potential for a breakout. Unless the CPI comes out very positive for gold.
Idea: False break of resistance and fall to 2666
Recently, the price has been growing exclusively on geopolitical nuances: the Middle East, problems in Europe, China started buying metal again.
The negative background is created by Trump's policy towards the dollar and inflation.
Scenario: This resistance was last tested in the middle of last month and there is no potential for a breakout. Unless the CPI comes out very positive for gold.
Idea: False break of resistance and fall to 2666
Trade active
Gold is reaching the key mark.
The confirmation of readiness to go down will be a false breakout and holding the market below the key zone
Trade closed: target reached
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