🥇 GOLD - Consolidation & retest of 1939 could lead to a decline
Gold is rising after a big drop. Most likely the market is going to test the liquids to the 1939 area.
The bearish trend is dominant and it should be taken into account in your trading
TA on a high timeframe:
1) A retest of the previously broken global support level is forming
2) The protest can pass in a false-break format.
TA on a low timeframe:
1) A consolidation is forming locally. Resistance at 1939 may be the target
2) Against the background of the bearish trend from 1939 the price may go towards the local ascending support.
3) We have a bearish trend and we should probably consider selling from strong levels
Key resistance📈: 1939
Key support📉: 1922
The bearish trend is dominant and it should be taken into account in your trading
TA on a high timeframe:
1) A retest of the previously broken global support level is forming
2) The protest can pass in a false-break format.
TA on a low timeframe:
1) A consolidation is forming locally. Resistance at 1939 may be the target
2) Against the background of the bearish trend from 1939 the price may go towards the local ascending support.
3) We have a bearish trend and we should probably consider selling from strong levels
Key resistance📈: 1939
Key support📉: 1922
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