Gold against the background of a bearish trend is forming a setup that could reverse the price direction. The bearish trend, with a small degree of probability can stop
TA on the high timeframe: 1) Price forms a retest of 1902.87 after a month and a half. The price will not break the level from the first time, most likely a rebound may be formed 2) A sideways range may be formed when a rebound from support is formed.
TA on the low timeframe: 1) A bearish channel is forming. 2) A descending wedge is formed against the background of the bearish channel. A retest of the figure support may push the price upwards 3) A retest of the figure's resistance may well break the local line and the price may form a surge to 1914 or 1930.
Key support๐: 1902 Key resistance๐: downtrend line and 1914