🏅GOLD - Rebound from 2020. Is the price ready to test 2067?

11 พ.ค. 2023

Gold is squeezed in a range. Resistance range 2048, support range 2020.
The local key support level, from which the price can rise, is located at 2030.

TA on the high timeframe:
1) Important news today (PPI, IJC) that could either push the price up or send the price to 2000. High volatility is expected.
2) The trend is bullish, the price does not pass through the local support levels, the bulls are trying to defend.

TA on the low timeframe:
1) Price moves from support to resistance
2) Since the key trend is bullish, it is a priority to consider long positions
3) Price pushes back from 2020, breaks 2030 and aims for 2048.
4) There is a chance of a pullback from 2048, before the price breaks through and rises to 2067.

Key support: 2030, 2020
Key resistance: 2048, 2058