🥇 GOLD - Price is testing resistance before a possible fall
Gold falls, market turns its attention to US banking-related regulatory announcement. The dollar is strengthening at the same time, which has a corresponding effect on the gold market. Since gold is in a bearish trend and is making new lows, we expect a decline based on the following assumptions.
Reasons for the drop:
1) The fundamental background for gold is weak
2) Today's news may also affect the price
3) The price is breaking the support of 2016 and is currently forming a retest.
4) A false breakdown of 2016 will signal a possible fall.
5) The area of 2016 - 1995 is empty for the market and the forming movement can be fast.
Reasons for the drop:
1) The fundamental background for gold is weak
2) Today's news may also affect the price
3) The price is breaking the support of 2016 and is currently forming a retest.
4) A false breakdown of 2016 will signal a possible fall.
5) The area of 2016 - 1995 is empty for the market and the forming movement can be fast.
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