🥇GOLD - Price is hitting a strong resistance area
Gold stops falling and forms a range of 1902 - 1885. A resistance retest and false breakout is forming
TA on the high timeframe:
1) False breakout and fall to 1884, after which the price forms a retest of previously broken support 1902
2) From this level the price may continue its decline
TA on the low timeframe:
1) With the probability of 70-80% the price will not be able to pass through the indicated resistance because of the trend, because of the volume density and because of the liquidity zone
2) False breakout with the top of 1908-1910 is possible
3) The trend is downward and most likely the price may go down to 1893 and 1885.
Key resistance📈: 1902.7
Key support📉: 1893.8
TA on the high timeframe:
1) False breakout and fall to 1884, after which the price forms a retest of previously broken support 1902
2) From this level the price may continue its decline
TA on the low timeframe:
1) With the probability of 70-80% the price will not be able to pass through the indicated resistance because of the trend, because of the volume density and because of the liquidity zone
2) False breakout with the top of 1908-1910 is possible
3) The trend is downward and most likely the price may go down to 1893 and 1885.
Key resistance📈: 1902.7
Key support📉: 1893.8
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