ð GOLD - Correction and retest 2000
Gold continues to decline and this time the price is testing key support, which is the upper boundary of the trading range: 2000, 1977
TA on the high timeframe:
1) price is testing the local low of 1999
2) it is in a bullish trend but correction is starting to take shape
TA on a low timeframe:
1) Price retests support 2000. This level is the upper boundary of the trading range, if the price breaks it, it will open the way to 1977
2) The price does not break through the level at the first attempt and starts to form a pullback. The pullback may be in the form of growth to the level of 2015, or it may be formed as a consolidation near the level of 2000.
3) The priority is expected to be a price decrease, the market is holding back the level of 2000, if it is broken down, the price will go towards 1977
Key resistance: 2010, 2015
Key support: 1996, 1988, 1977
TA on the high timeframe:
1) price is testing the local low of 1999
2) it is in a bullish trend but correction is starting to take shape
TA on a low timeframe:
1) Price retests support 2000. This level is the upper boundary of the trading range, if the price breaks it, it will open the way to 1977
2) The price does not break through the level at the first attempt and starts to form a pullback. The pullback may be in the form of growth to the level of 2015, or it may be formed as a consolidation near the level of 2000.
3) The priority is expected to be a price decrease, the market is holding back the level of 2000, if it is broken down, the price will go towards 1977
Key resistance: 2010, 2015
Key support: 1996, 1988, 1977
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