Gold has been in consolidation between 1965 and 1954 for 24 hours. Numerous retests of the resistance line are formed. Most likely, the market is preparing for strengthening.
False breakdown of the range support increases liquidity in the market and prepares the price for growth. A strong resistance 1965 is formed on the chart and a pre-breakdown consolidation is formed. A breakout and fixation of the price above 1965 will form a strong momentum towards 1984 Moving averages serve as strong support and form a signal that indicates a possible price strengthening.
Strong support: 1954 Strong resistance: 1965, 1970, 1984 I expect price strengthening after breaking through the level of 1965 and consolidation of the price above this line. The bulls are preparing for growth.
Good chart dear, I'm agree with your analytics, it's possible
linofx1
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Excellent analysis, with high chance of winning ✅
TradingShot
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Very good analysis, thank you.
HAMED_AZ
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Good job
InvestingScope
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Not the most common proposition based on the current market conditions. Generally, it is possible assuming all arguments work out, so thumbs up just for this!