🥇GOLD - The double top may start a correction

14 ביולי 2023

Gold breaks the global bearish trend and forms momentum, but price fails to reach key zones and starts to form a reversal set-up.

TA on the high timeframe:
1) The key liquidity area that is of interest to many is in the 1970-1980 area
2) A correction is being formed and most likely the growth to liquidity will continue after it

TA on the low timeframe:
1) A double top is forming, a break of 1955 support will form an impulse to 0.236 or 0.382 fibo
2) The trend is upward, this pattern does not give hope for a trend change.
3) The decline will allow us to find more convenient support levels to buy at a favorable price.

Key support📉: 1955
Key resistance📈: 1963