🥇 GOLD - The calm before the storm
GOLD is in consolidation. Which is indicated by the mood of the crowd. In this area the struggle for further prospects is forming. The main role is played by the 1984 level.
Prerequisites:
1) There is news ahead, most likely it could be positive for the American market, which could be relatively negative for gold
2) If expectations come true, the gold price could fall to 1970, 1960 or 1950.
3) Since the situation is unstable at the moment, it is not worth trading in the narrow range between 1975-1985. I recommend to wait for the price to consolidate above 1984, or to retest the support of 1970, 1960, 1950 to buy.
Key support: 1977
Key resistance: 1988
Prerequisites:
1) There is news ahead, most likely it could be positive for the American market, which could be relatively negative for gold
2) If expectations come true, the gold price could fall to 1970, 1960 or 1950.
3) Since the situation is unstable at the moment, it is not worth trading in the narrow range between 1975-1985. I recommend to wait for the price to consolidate above 1984, or to retest the support of 1970, 1960, 1950 to buy.
Key support: 1977
Key resistance: 1988
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