GOLD waiting for a breakout
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GOLD 4H NEW FORECAST
The price of gold is hovering around the level of 2325, and begins new attempts to pressure this level at the opening of the day, noting that the Stochastic indicator is showing negative signs that we expect will contribute to pushing the price to break this level and open the way for heading towards the next corrective level that reaches 2305.
Therefore, we will continue to favor the downward trend for the coming period, noting that the breach of 2365 will stop the expected decline and lead the price to resume the main upward trend again.
Support: 2305.00
Resistance: 2345.00
GOLD 4H NEW FORECAST
The price of gold is hovering around the level of 2325, and begins new attempts to pressure this level at the opening of the day, noting that the Stochastic indicator is showing negative signs that we expect will contribute to pushing the price to break this level and open the way for heading towards the next corrective level that reaches 2305.
Therefore, we will continue to favor the downward trend for the coming period, noting that the breach of 2365 will stop the expected decline and lead the price to resume the main upward trend again.
Support: 2305.00
Resistance: 2345.00
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