🥇 GOLD Another retest of the 2000 level. Bullish trend
Gold pulled everyone down yesterday. There could be several reasons: the market maker and his traps, increasing liquidity and so on. A false break-down of the level of 1985 sends the price up again and a retest of 2000 is formed.
The TA on the high timeframe:
1) We are still seeing strong gains.
2) Strong consolidation in the ascending range as the price is gaining strength to overcome the 2030-2050 area.
TA on the low timeframe:
1) gold in a sideways range of 2031 - 1980
2) False-break of support was made
3) False-break of the trend is forming
4) Price forms a retest of the 2000 level. We expect consolidation above.
5) The resistance level of 2009 may be the target and if the price overcomes it, it will continue growing up to 2030.
6) But there is a chance of pulling back to 1995
Key support: 1993, 2000
Key resistance: 2009, 2020 and 2031
The TA on the high timeframe:
1) We are still seeing strong gains.
2) Strong consolidation in the ascending range as the price is gaining strength to overcome the 2030-2050 area.
TA on the low timeframe:
1) gold in a sideways range of 2031 - 1980
2) False-break of support was made
3) False-break of the trend is forming
4) Price forms a retest of the 2000 level. We expect consolidation above.
5) The resistance level of 2009 may be the target and if the price overcomes it, it will continue growing up to 2030.
6) But there is a chance of pulling back to 1995
Key support: 1993, 2000
Key resistance: 2009, 2020 and 2031
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.