🥇 GOLD - Is it possible to see gold fall?

21 בדצמ׳ 2023

Gold may be shaken by the news today. As the price can't get out of the flat 2020-2030 for a few days and the market is holding the price back strongly. Consolidation allows to accumulate potential for the market, but it does not mean that a break of one of the boundaries will send the price in the right direction. A false break of the opposite boundary may follow before a fall or rise.

Reasons for further decline ↓

1) Gold can't overcome the previously formed local hikes
2) Density is forming in the resistance zone
3) Due to the US news, the price may form a false breakdown of resistance before the fall
4) Consolidation and gradual price decline - bearish potential