🥇GOLD - Downward price channel
Gold breaks the support of 1939, goes down to 1910 and is preparing to go down again. The market is clearly bearish, a downward price channel is forming and within the channel we should expect a decline to 1895 and to 1880.
TA on the high timeframe:
1) Price breaks another support. The chart clearly shows that the market is actively dropping the price
2) Price moves out of the range. A price fixation below 1910 will form an impulse towards 1900
The TA on the low timeframe:
1) Retest of 1910 support.
2) Red falling market
3) Breakout of 1910 will form momentum
4) It is not worth buying now, either from strong levels and look for close targets
Key support📉: 1910
Key resistance📈: 1917.5
TA on the high timeframe:
1) Price breaks another support. The chart clearly shows that the market is actively dropping the price
2) Price moves out of the range. A price fixation below 1910 will form an impulse towards 1900
The TA on the low timeframe:
1) Retest of 1910 support.
2) Red falling market
3) Breakout of 1910 will form momentum
4) It is not worth buying now, either from strong levels and look for close targets
Key support📉: 1910
Key resistance📈: 1917.5
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