🥇GOLD - Can the market turn around? Or will it keep falling?
Gold against the background of a bearish trend is forming a setup that could reverse the price direction. The bearish trend, with a small degree of probability can stop
TA on the high timeframe:
1) Price forms a retest of 1902.87 after a month and a half. The price will not break the level from the first time, most likely a rebound may be formed
2) A sideways range may be formed when a rebound from support is formed.
TA on the low timeframe:
1) A bearish channel is forming.
2) A descending wedge is formed against the background of the bearish channel. A retest of the figure support may push the price upwards
3) A retest of the figure's resistance may well break the local line and the price may form a surge to 1914 or 1930.
Key support📉: 1902
Key resistance📈: downtrend line and 1914
TA on the high timeframe:
1) Price forms a retest of 1902.87 after a month and a half. The price will not break the level from the first time, most likely a rebound may be formed
2) A sideways range may be formed when a rebound from support is formed.
TA on the low timeframe:
1) A bearish channel is forming.
2) A descending wedge is formed against the background of the bearish channel. A retest of the figure support may push the price upwards
3) A retest of the figure's resistance may well break the local line and the price may form a surge to 1914 or 1930.
Key support📉: 1902
Key resistance📈: downtrend line and 1914
All about GOLD🥇
Trading Tips💡
Secrets of🔑
Analysis📊
Forecasts🔔
FREE TELEGRAM:
🌹 Telegram channel: t.me/Go1dTech
😍 My contact: t.me/GoldTech
Trading Tips💡
Secrets of🔑
Analysis📊
Forecasts🔔
FREE TELEGRAM:
🌹 Telegram channel: t.me/Go1dTech
😍 My contact: t.me/GoldTech
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.