Gold in the medium term: On the left is the weekly chart. On the right is the daily chart. Let's disassemble!
Weekly chart:
We see a strong rise from strong support at 1176 to the price peak at 2070, after which a correction is formed to support at 1685, but on the background of the news, the price starts to recover and tests the strong resistance of 2070,
but the price fights back and makes a false breakout of the level formed in 2012. The price is in the range of 2070-1685, I think that after testing the resistance and forming a false breakdown, we can see a fall.
Daily chart:
Rebound from 2070 and price enters global, wide price range between 1911 and 1820,
Approximately from the middle of the range, the price begins to roll back to the previously falsely broken border - the resistance of 1911. The situation, like on the weekly chart, is bearish. The price did not test the liquidity zone below the ascending price channel support line and below the 1820 support level. I think
that after the price rolls back to the resistance of 1911, we can see a drop in the price of gold
Sincerely, R. Linda!
Weekly chart:
We see a strong rise from strong support at 1176 to the price peak at 2070, after which a correction is formed to support at 1685, but on the background of the news, the price starts to recover and tests the strong resistance of 2070,
but the price fights back and makes a false breakout of the level formed in 2012. The price is in the range of 2070-1685, I think that after testing the resistance and forming a false breakdown, we can see a fall.
Daily chart:
Rebound from 2070 and price enters global, wide price range between 1911 and 1820,
Approximately from the middle of the range, the price begins to roll back to the previously falsely broken border - the resistance of 1911. The situation, like on the weekly chart, is bearish. The price did not test the liquidity zone below the ascending price channel support line and below the 1820 support level. I think
that after the price rolls back to the resistance of 1911, we can see a drop in the price of gold
Sincerely, R. Linda!
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NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel:
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🔴Contact:
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Disclaimer
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🌹TRADING is a CASINO💔!?
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel:
t.me/RLindaTrade
🔴Contact:
t.me/RLindaSignals
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel:
t.me/RLindaTrade
🔴Contact:
t.me/RLindaSignals
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.