🏅GOLD - the price confirms the break of the trend. Retest 1970
Gold breaks the downtrend and we get confirmation that after the retest of the bearish channel resistance, the price forms a good momentum.
TA on the high timeframe:
1) The market is in a news waiting phase, but at the same time the dollar is declining
2) Gold is in a flat between 1981 and 1935. A resistance retest is forming. The price can break it on the news.
TA on a low timeframe
1) The price is approaching resistance 1970, it may pullback to support.
2) The trend breaks and high volatility is possible in the near future
3) After the pullback it is worth waiting for the buy areas
4) If 1970 is broken, wait for a buy signal above this level
Key resistance 1970
key support 1960
TA on the high timeframe:
1) The market is in a news waiting phase, but at the same time the dollar is declining
2) Gold is in a flat between 1981 and 1935. A resistance retest is forming. The price can break it on the news.
TA on a low timeframe
1) The price is approaching resistance 1970, it may pullback to support.
2) The trend breaks and high volatility is possible in the near future
3) After the pullback it is worth waiting for the buy areas
4) If 1970 is broken, wait for a buy signal above this level
Key resistance 1970
key support 1960
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