🥇 GOLD - Prerequisites for further growth

6 בנוב׳ 2023

GOLD is testing bullish trend support and at the same time resistance at 1988.6, which plays an important role in price formation.

Prerequisites for further upside:
1) Bounce from support and bullish trend
2) Favorable fundamental background
3) Weak dollar is only positive for gold
4) The situation in the Far East
5) Consolidation in the rising channel between trend support and resistance 1988 looks like an ascending triangle, which only increases the potential for a breakout of 1988.6

Key support: 1982
Key resistance: 1988