🏅GOLD - Retest of support, the bears are not ready yet
Gold is gradually rebuilding the local boundaries of the descending wedge. By the end of yesterday's trading session, on the background of the news, the price makes a shake-up, today another attempt to break the local resistance is formed.
TA on the high timeframe:
1) We still have a global uptrend
2) The bulls are stubbornly resisting and trying to hold the 1980-1985 zone
TA on the low timeframe:
1) Price breaks downward resistance. A price fixation above the line will form a bullish momentum
2) Still bearish potential at the moment. Until the price breaks the key resistance of 1990-2000, it is not worth talking about global growth, there is still global range resistance ahead.
3) It is more likely that the price may rise to 1990-1995 or to 2000, but in the mid-term the price can go back to support 1980-1985.
Key support 1982
Key resistance 1988, 1995, 2000
TA on the high timeframe:
1) We still have a global uptrend
2) The bulls are stubbornly resisting and trying to hold the 1980-1985 zone
TA on the low timeframe:
1) Price breaks downward resistance. A price fixation above the line will form a bullish momentum
2) Still bearish potential at the moment. Until the price breaks the key resistance of 1990-2000, it is not worth talking about global growth, there is still global range resistance ahead.
3) It is more likely that the price may rise to 1990-1995 or to 2000, but in the mid-term the price can go back to support 1980-1985.
Key support 1982
Key resistance 1988, 1995, 2000
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