🥇 GOLD | Correction within the range. Retest 1960
Gold is declining within the flat. The price is approaching the 1960 level for a retest, but at the moment the market is being kept neutral by whales and market makers to recruit larger positions
TA and fundamentals on the high timeframe.
1) Worldwide interest in this asset is growing
2) There is also a strong jump in the trading volume of gold call options. Bullish bets on the instrument have risen sharply
3) The trend is bullish. Strong enough.
4) The price is in its maximum values and it forms consolidation in the green zone
5) The chart to the right is MA-200 (red) below 1800. Strong support support. MA-50 below 1900 is a strong support pillar
TA on the low timeframe:
1) Price is forming a 2000-1935 flat.
2) There is strong support at 1960 in the middle of the range. It is possible that this level could push the price up
3) Locally we have a bearish correction, in which case the local trend is bearish, hence we have a right to look for an entry point to sell. But our task is to follow the rules of risk-management
4) We may see a small pullback from 1960-1962 to 1970-1980.
TA and fundamentals on the high timeframe.
1) Worldwide interest in this asset is growing
2) There is also a strong jump in the trading volume of gold call options. Bullish bets on the instrument have risen sharply
3) The trend is bullish. Strong enough.
4) The price is in its maximum values and it forms consolidation in the green zone
5) The chart to the right is MA-200 (red) below 1800. Strong support support. MA-50 below 1900 is a strong support pillar
TA on the low timeframe:
1) Price is forming a 2000-1935 flat.
2) There is strong support at 1960 in the middle of the range. It is possible that this level could push the price up
3) Locally we have a bearish correction, in which case the local trend is bearish, hence we have a right to look for an entry point to sell. But our task is to follow the rules of risk-management
4) We may see a small pullback from 1960-1962 to 1970-1980.
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