🥇 GOLD False breakdown of support and the 2000 level
Gold makes a retest of the support zone, makes a false break and returns to the ascending range
TA on the high time frame
1) last week's fundamentals start to influence the price positively
2) the trend is ascending
3) price makes a retest of the global support level.
TA on a low timeframe:
1) a false break of the upward support line is a strong signal
2) The price retests the MA-50 daily moving average and forms a rebound
3) bullish potential is still preserved, hence, we need to look for the key support level to expect an entry point
Key levels: 1995, 2000, 2010
Consolidation of the price above one of the lines will begin to form a bullish signal, which may give a good rise.
TA on the high time frame
1) last week's fundamentals start to influence the price positively
2) the trend is ascending
3) price makes a retest of the global support level.
TA on a low timeframe:
1) a false break of the upward support line is a strong signal
2) The price retests the MA-50 daily moving average and forms a rebound
3) bullish potential is still preserved, hence, we need to look for the key support level to expect an entry point
Key levels: 1995, 2000, 2010
Consolidation of the price above one of the lines will begin to form a bullish signal, which may give a good rise.
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