🥇 GOLD The price goes into the red zone. Time to sell?
Gold, based on yesterday's analysis, is acting according to the scenario.
Local ascending support is broken and the price makes a retest of resistance
TA on the high timeframe:
1) False breakout of resistance.
2) The price is not ready to go up yet.
3) Entering the phase of accumulation and possible decline to the key supports.
TA on low timeframe:
1) Support is broken, a bearish impulse is formed.
2) Retest of the previously broken line (a sell signal may be formed).
3) The price is in a range, hence it may fall to support 1935
Levels to sell: 1960, 1965
Targets: 1950, 1935
Local ascending support is broken and the price makes a retest of resistance
TA on the high timeframe:
1) False breakout of resistance.
2) The price is not ready to go up yet.
3) Entering the phase of accumulation and possible decline to the key supports.
TA on low timeframe:
1) Support is broken, a bearish impulse is formed.
2) Retest of the previously broken line (a sell signal may be formed).
3) The price is in a range, hence it may fall to support 1935
Levels to sell: 1960, 1965
Targets: 1950, 1935
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