🥇 GOLD - Distribution before correction from 2065
Gold is forming a rally after breaking through a strong resistance zone. On the background of sellers' liquidation and opening of orders by the buyers, which accelerate the price to 2060, we see the momentum. The approximate area where the impulse may end is LH (2060 - 2065). We should wait for a retest and a false breakdown.
Reasons for further growth before the subsequent correction
1) High interest. Technically formed by liquidation of sellers after breakdown of trend resistance.
2) Impulse after the formation of a local bottom on PWH
3) Local bullish trend. Price is moving towards the target at PMH
Possible fall after reaching the liquidity area
Reasons for further growth before the subsequent correction
1) High interest. Technically formed by liquidation of sellers after breakdown of trend resistance.
2) Impulse after the formation of a local bottom on PWH
3) Local bullish trend. Price is moving towards the target at PMH
Possible fall after reaching the liquidity area
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