GOLD and 50MA high potential fake breakout here seen

23 באפר׳ 2021

AS we can see gold respect this 50MA for long time and now after huge rise that was expected :

we may receive correction now and retest breakout of 1740 that was strong support zone and then once again try to break 50MA and continue to rise

we had false breakout at 5 NOV and this time maybe again false breakout here so we should consider bearish market these days too.

Notice: if retest breakout of MA completed after touching 1774 we may expect new target that we were looking for it on previous analysis 1830:


But for now we are looking for Bearish market to show off soon and fake breakout scenario .
DISCLAIMER:
1.trade carefully and have stop loss for sure
2.Past performance is not indicative of future results.


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