🥇 GOLD - Retest of strong resistance before the news
Updated
Gold is testing resistance before the publication of strong news in the US market. Most likely, based on the analysis of the fundamental outlook, the dollar may get bullish volume and start local strengthening. Gold in this case may lose its positions and after a false breakdown of 2050 or 2058 head downwards, accompanying the current trend direction
Prerequisites for further decline:
1) Price from below is testing resistance (previously broken 2048 support)
2) Fundamentally, bears have come to the gold market
3) Long candles relative to the current resistance
4) False Breakout
5) Global reversal pattern
Prerequisites for further decline:
1) Price from below is testing resistance (previously broken 2048 support)
2) Fundamentally, bears have come to the gold market
3) Long candles relative to the current resistance
4) False Breakout
5) Global reversal pattern
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