🥇GOLD - Resistance Retest. Correction to 1972-1963
Gold is testing a strong resistance area that could push the price back quite a bit. If the price shows strength against the bears and signals further upside, we will take advantage of it
TA on the high timeframe:
1) Price is testing the global flat resistance. A rebound from the resistance is possible
2) The bullish trend is resuming
3) At the same time candlestick analysis suggests the continuation of growth
TA on the low timeframe:
1) Price forms a retest of the uptrend resistance.
2) After a false breakdown, consolidation under the level is formed.
3) The closest support that price can aim for is 1972. This could then be trend support
4) Price returning to trend resistance or to 1984 for a retest will signal a breakout and a continuation up to 1999.
Key support📉: 1972, 1963
Key resistance📈: 1980, 1984
TA on the high timeframe:
1) Price is testing the global flat resistance. A rebound from the resistance is possible
2) The bullish trend is resuming
3) At the same time candlestick analysis suggests the continuation of growth
TA on the low timeframe:
1) Price forms a retest of the uptrend resistance.
2) After a false breakdown, consolidation under the level is formed.
3) The closest support that price can aim for is 1972. This could then be trend support
4) Price returning to trend resistance or to 1984 for a retest will signal a breakout and a continuation up to 1999.
Key support📉: 1972, 1963
Key resistance📈: 1980, 1984
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