🥇GOLD - Retest of resistance before further decline

13 сент. 2023 г.

Gold breaks down and updates the local minimum within the descending price channel. The global trend after the correction continues.

TA on the high timeframe:
1) Breakout of local support at 1916 confirms our action and market sentiment
2) The market is in a global downtrend. We should pay attention to strong resistance levels for further sales

TA on the low timeframe:
1) Price forms a new low at 1907
2) counter-trend correction is forming from 1907. The market may soon test the previously broken support line at 1916.7
3) Since the trend is downward, this level will be ideal for further selling.
4) It is also worth paying attention to the support at 1907. If this line is broken, the market will also go down.

Key resistance📈: 1916.7
Key support📉: 1907, 1903