Gold is forming a local downtrend. Which is relevant after the break of the ascending channel in early September.
The realization of a strong sell signal is forming on D1
TA on the high timeframe:
1) Everything is stable. False break of resistance sends the price down
2) Potential: falling to 1900 after correction.
TA on the low timeframe:
1) Price in bearish trend
2) A retest of 1926 prevents the price from updating the local high
3) Consolidation is forming below 1926 after a false breakdown
4) Bears are consolidating their positions on the background of a weak buyer
Key resistance📈: 1926
Key support📉: 1916 and 1903
The realization of a strong sell signal is forming on D1
TA on the high timeframe:
1) Everything is stable. False break of resistance sends the price down
2) Potential: falling to 1900 after correction.
TA on the low timeframe:
1) Price in bearish trend
2) A retest of 1926 prevents the price from updating the local high
3) Consolidation is forming below 1926 after a false breakdown
4) Bears are consolidating their positions on the background of a weak buyer
Key resistance📈: 1926
Key support📉: 1916 and 1903
❤️ Telegram channel: t.me/AndeWave
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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.