🥇GOLD - The price is getting ready to drop. False breakout
Gold is testing trend resistance again, Price is forming a strong consolidation and there is a noticeable lull in the market, most likely before the storm
TA on the high Timeframe:
1) Local support is forming at 1912, and consolidation near the level
2) There is still a potential for a decline to 1902.
TA on the low timeframe:
1) Price is forming a bounce from trend resistance after a false breakdown
2) If the price can break the support of 1912, 1910 then it will head down to 1900.
3) The trend is bearish and I expect the price to decline in priority.
Key resistance📈: 1915
Key support📉: 1912, 1910
TA on the high Timeframe:
1) Local support is forming at 1912, and consolidation near the level
2) There is still a potential for a decline to 1902.
TA on the low timeframe:
1) Price is forming a bounce from trend resistance after a false breakdown
2) If the price can break the support of 1912, 1910 then it will head down to 1900.
3) The trend is bearish and I expect the price to decline in priority.
Key resistance📈: 1915
Key support📉: 1912, 1910
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