🥇 GOLD A wedge is formed. Resistance breakthrough
Updated
Gold closes inside the wedge format range. In an uptrend, whales could potentially be set to break wedge resistance
TA on a high timeframe:
1) Trend bullish. Lower right chart: gold is consolidating above the February 1960 high - price is in the green zone
2) Left lower chart: trend demonstration
TA on the low timeframe:
1) A wedge is forming. The price makes a false breakout of the wedge and heads towards support.
2) Breakout of the interest zone 1965-1962 can send the price down to 1957.
3) The medium-term potential is on the side of the buyers
4) I think the price will rebound from the uptrend support line and go towards the resistance figure
5) In the medium term there is a high probability of a breakthrough of the wedge resistance and growth of the price to 1980 and 2000
TA on a high timeframe:
1) Trend bullish. Lower right chart: gold is consolidating above the February 1960 high - price is in the green zone
2) Left lower chart: trend demonstration
TA on the low timeframe:
1) A wedge is forming. The price makes a false breakout of the wedge and heads towards support.
2) Breakout of the interest zone 1965-1962 can send the price down to 1957.
3) The medium-term potential is on the side of the buyers
4) I think the price will rebound from the uptrend support line and go towards the resistance figure
5) In the medium term there is a high probability of a breakthrough of the wedge resistance and growth of the price to 1980 and 2000
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