🥇GOLD - Retest of new trend resistance

25 ביולי 2023

Gold is forming a correction, a new range is formed, which has its downward resistance. Earlier, the price formed a retest of the line and updated the local minimum.

TA on the high timeframe:
1) False breakout of resistance 1984
2) Bearish momentum is forming
3) Medium-term target is the liquidity area below 1943

TA on high timeframe:
1) False breakout sends the price down and it updates the local low
2) A correction to resistance is forming, anything can happen on the background of fundamental factors, but at the moment the bearish scenario prevails

Key resistance📈: 0.236 Fibo, 1963
Key support📉: 1953