Gold: Short-term Analysis for 05/11/2024

Timeframe H1. If support at the previous low is broken to the downside, the price is likely to continue testing the 2720-2717 support area. Given the presence of bearish divergence and that the market has taken inducement, it seems probable that the price will establish a new low. The alternative scenario is that if the price breaks through the upper resistance, there is a strong chance that it will fill the gap.https://www.tradingview.com/x/IgEaiNUH/