🥇GOLD - The price is getting ready to drop. False breakout

14 באוג׳ 2023

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