๐ฅGOLD - Range resistance is the target
Gold updates the high to 1874. Yesterday I pointed out the bullish pattern - the market is in the realization phase and gives us a 150pips rise, but we haven't reached the target yet
TA on the high timeframe:
1) Strong bullish trend continues. Against the background of the crisis in the world, the interest in gold is only increasing
2) The medium-term target has not been reached yet. The growth will continue
TA on the low timeframe:
1) A small pullback may follow before jumping to 1877.7.
2) After reaching 1877.7, I expect a false breakdown followed by a decline, most likely to the support of the mentioned range - 1857.
3) Short-term target is 1877, then 1857. And what will happen next, we will follow the price reaction to these zones.
Key resistance๐: 1877.7
Key support๐: 1866, 1857
TA on the high timeframe:
1) Strong bullish trend continues. Against the background of the crisis in the world, the interest in gold is only increasing
2) The medium-term target has not been reached yet. The growth will continue
TA on the low timeframe:
1) A small pullback may follow before jumping to 1877.7.
2) After reaching 1877.7, I expect a false breakdown followed by a decline, most likely to the support of the mentioned range - 1857.
3) Short-term target is 1877, then 1857. And what will happen next, we will follow the price reaction to these zones.
Key resistance๐: 1877.7
Key support๐: 1866, 1857
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