🥇GOLD - Retest of 1895 will determine the further direction
Gold is testing the wedge support and the level of 1895.34. The gradual renewal of the lows tells us about a strong downtrend and therefore it is a priority to consider selling.
TA on the high timeframe:
1) Something like a pin bar forms in relation to 1895
2) A bounce to 1914-1920 is possible to follow
3) Friday's daily candle close will determine further direction
TA on the low timeframe:
1) After a bounce from 1895, a retest of 1910 is formed. After a false breakout, the price consolidates below the level.
2) Maybe a shake-up will follow (false-break-down of 1910 or wedge resistance), and then the price will go back down towards 1895.
3) Decrease to 1895 will be interpreted as a retest and readiness for another decline, and 1880, 1860 are ahead.
Key resistance📈: 1910
Key support📉: 1895
TA on the high timeframe:
1) Something like a pin bar forms in relation to 1895
2) A bounce to 1914-1920 is possible to follow
3) Friday's daily candle close will determine further direction
TA on the low timeframe:
1) After a bounce from 1895, a retest of 1910 is formed. After a false breakout, the price consolidates below the level.
2) Maybe a shake-up will follow (false-break-down of 1910 or wedge resistance), and then the price will go back down towards 1895.
3) Decrease to 1895 will be interpreted as a retest and readiness for another decline, and 1880, 1860 are ahead.
Key resistance📈: 1910
Key support📉: 1895
All about GOLD🥇
Trading Tips💡
Secrets of🔑
Analysis📊
Forecasts🔔
FREE TELEGRAM:
🌹 Telegram channel: t.me/Go1dTech
😍 My contact: t.me/GoldTech
Trading Tips💡
Secrets of🔑
Analysis📊
Forecasts🔔
FREE TELEGRAM:
🌹 Telegram channel: t.me/Go1dTech
😍 My contact: t.me/GoldTech
Related publications
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.