GOLD ANALYZE 1H
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Hello dear traders,
In the global gold market, on the 1-hour timeframe, we are witnessing a downward trend where the price, after forming a bottom at 1931.5 and making an upward spike, indicates the possibility of forming a price pivot.
We have two scenarios for the movement of gold:
1. If the trendline is broken, we expect further price growth. However,
2. if the price shows a reaction at the trendline and turns back towards the pivot, we anticipate price support.
It is worth mentioning that if the floor at 1931 is lost, this analysis loses its validity.
Thank you for following me. Wherever you are, stay safe and profitable.
In the global gold market, on the 1-hour timeframe, we are witnessing a downward trend where the price, after forming a bottom at 1931.5 and making an upward spike, indicates the possibility of forming a price pivot.
We have two scenarios for the movement of gold:
1. If the trendline is broken, we expect further price growth. However,
2. if the price shows a reaction at the trendline and turns back towards the pivot, we anticipate price support.
It is worth mentioning that if the floor at 1931 is lost, this analysis loses its validity.
Thank you for following me. Wherever you are, stay safe and profitable.
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