๐ฅGOLD - Correction before further decline
Gold bounces off the local support at 1915 and the price returns to retest the key resistance. Price is in a range and we are now interested in flat resistance.
TA on the high timeframe:
1) Pin bar resistance 1934.
2) Price does not reach one of the key resistances 1949 for a few pips, indicating strong pressure from the resistance
3) At the same time, active sell-offs are forming and a pin-bar is forming on the chart
TA on the low timeframe:
1) Price is forming a rebound and heading towards 1928.5
2) The resistance area may be tested soon before further decline
3) The market is bearish now and we should look for strong resistance levels for further selling
Key resistance๐: 1928.5, 1934.8
Key support๐: 1922. 1915. 1908
TA on the high timeframe:
1) Pin bar resistance 1934.
2) Price does not reach one of the key resistances 1949 for a few pips, indicating strong pressure from the resistance
3) At the same time, active sell-offs are forming and a pin-bar is forming on the chart
TA on the low timeframe:
1) Price is forming a rebound and heading towards 1928.5
2) The resistance area may be tested soon before further decline
3) The market is bearish now and we should look for strong resistance levels for further selling
Key resistance๐: 1928.5, 1934.8
Key support๐: 1922. 1915. 1908
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