As we have seen together the developments this week, the price of gold is again consolidating to the 3300 area and trying to penetrate the 3400 area.
Below the 3390 area there is a resistance area, if this week there is a rejection in this area, the price will bounce down towards the support area of 3220.
And if this support breaks, the price will continue to decline.
And vice versa, if the price manages to break through the 3400 area, then it is likely that the price will correct and continue to rise.
For now, 3390-3400 zone is a key level.
Becarefull, as we are now in a consolidation / accumulation zone.
Good luck !
Below the 3390 area there is a resistance area, if this week there is a rejection in this area, the price will bounce down towards the support area of 3220.
And if this support breaks, the price will continue to decline.
And vice versa, if the price manages to break through the 3400 area, then it is likely that the price will correct and continue to rise.
For now, 3390-3400 zone is a key level.
Becarefull, as we are now in a consolidation / accumulation zone.
Good luck !
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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.