Gold is correcting after a false support breakout. We may see a flat formation inside 1984-1853. Support may be tested soon, which will push the price upward
TA on the high timeframe:
1) Strong bullish trend and correction after a false breakdown
2) The dollar index is standing still, which makes many doubtful. This is also negative for gold
TA on the low timeframe:
1) False break of resistance and price falls to 1953.
2)If a false breakdown is made, a local rise to 1984 will begin
3) This will confirm the flat boundaries and determine the future direction of the price.
Key resistance: 1984.425
Key support: 1953.055
TA on the high timeframe:
1) Strong bullish trend and correction after a false breakdown
2) The dollar index is standing still, which makes many doubtful. This is also negative for gold
TA on the low timeframe:
1) False break of resistance and price falls to 1953.
2)If a false breakdown is made, a local rise to 1984 will begin
3) This will confirm the flat boundaries and determine the future direction of the price.
Key resistance: 1984.425
Key support: 1953.055
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