Gold continues to decline. The triple top and the trendline will keep pushing the price down until it breaks the limit support.
1) The key support level is 1824, below which the price can go to 1810 and 1805 rather quickly. 2) The price forms a triple top near resistance, after which a bullish momentum is formed, a retest of resistance and a new downward attempt - the bears keep pushing the buyer out 3) At the moment the price in the format of descending triangle continues to test the ascending support line and there are more and more chances that the price can break it 4) The global chart on the right points to the range of 1960-1774, hence the price is heading for support and there is a chance that we could test 1775 in the medium term
I suggest leaning towards selling. It is possible to open sales either from the descending resistance line or on the breakdown of support 1824
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.