🥇 GOLD - Retest on the back of the news could break resistance
Gold is forming a quiet growth. Surprisingly, there is no violent reaction to the news, but at the same time the situation is still unstable. Today will be known data on employment and gdp. Keep an eye on the news!
TA on the high timeframe:
1) Price forms a flat resistance retest.
2) This quick retest implies that the market is ready to continue rising.
3) Price is approaching the liquidity zone. A bullish impulse may be formed when this zone is broken through.
TA on the low timeframe:
1) Price is moving in fast volatile moves, but note that a large position is being gained due to the fact that a drop and rise is being formed on increased volatility, but at the same time price continues to strengthen.
2) A retest of 1983.6 may form a pullback, but not a big one.
3) Price is still far away from the resistance breakout and in this case it will have to form a pre-breakout consolidation or a quick retest of the resistance area
4) Growth is the priority. But it is possible that the growth will occur after a pullback
Key support📉: 1973, 1963
Key resistance📈: 1983.6
TA on the high timeframe:
1) Price forms a flat resistance retest.
2) This quick retest implies that the market is ready to continue rising.
3) Price is approaching the liquidity zone. A bullish impulse may be formed when this zone is broken through.
TA on the low timeframe:
1) Price is moving in fast volatile moves, but note that a large position is being gained due to the fact that a drop and rise is being formed on increased volatility, but at the same time price continues to strengthen.
2) A retest of 1983.6 may form a pullback, but not a big one.
3) Price is still far away from the resistance breakout and in this case it will have to form a pre-breakout consolidation or a quick retest of the resistance area
4) Growth is the priority. But it is possible that the growth will occur after a pullback
Key support📉: 1973, 1963
Key resistance📈: 1983.6
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