🥇GOLD - The fall may continue, but after a small correction

3 באוק׳ 2023

Gold reaches the specified level and forms a false breakout attempt. A rebound may be formed. But there is a chance of a continuation of the fall from the level of 1825.

TA on the high timeframe:
1) Broken 0.5 fibo level. A strong fall is formed from the opening
2) The liquidity area that the price can test within the counter-trend correction is in the area of 1840-1850.

TA on the low timeframe:
1) We have a strong downtrend
2) The price cannot fall all the time. If there is a false breakout of 1825 and the price forms consolidation above the level, there may be a rebound to local resistance levels.
3) In the medium term, the fall will continue, but after a probable correction.

Key support📉: 1825
Key resistance📈: 1833, 1840, 1850