🥇 GOLD the bulls bought up all the fall
Gold forms a technical pullback to a strong support area (1980). False breakdown of the level brings the price back up. The price is back above the 2000 level.
TA on a high timeframe:
1) Price made a retest of support. The bulls have marked the key boundary.
2) The trend is strong. Bullish
3) Fundamental factors are on the buyers' side.
TA on a low timeframe:
1) The 5-wave movement (correction phase) has been stopped at the support line area (1980)
2) The price breaks through upwards, the buyers are active enough.
3) The price breaks through the peak of the fourth wave of downward movement
4) Price latching above the area of 2000 would form a good entry point
Support: 2000 (important level for the whole market), 2003 (the peak of the fourth wave)
Resistance: 2020, 2031
If the price can consolidate above the uptrend line or above key support, strong growth will continue. The main near-term target is 2070
TA on a high timeframe:
1) Price made a retest of support. The bulls have marked the key boundary.
2) The trend is strong. Bullish
3) Fundamental factors are on the buyers' side.
TA on a low timeframe:
1) The 5-wave movement (correction phase) has been stopped at the support line area (1980)
2) The price breaks through upwards, the buyers are active enough.
3) The price breaks through the peak of the fourth wave of downward movement
4) Price latching above the area of 2000 would form a good entry point
Support: 2000 (important level for the whole market), 2003 (the peak of the fourth wave)
Resistance: 2020, 2031
If the price can consolidate above the uptrend line or above key support, strong growth will continue. The main near-term target is 2070
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