GOLD is testing the resistance formed back in the spring and summer of 2023. The resistance level is strong enough and can stop the distribution, after which a counter-trend correction may occur
TA on the high timeframe:
1) bullish trend while the dollar index stands still
2) price is approaching a strong level, several months have passed since the last test.
TA on the low timeframe:
1) Price is testing the level, I don't think gold will break it from the first test
2) I am waiting for a false breakout or a bounce from the level.
3) Target in rebound phase: 1975, 1955
Key resistance: 1985
Key support: 1953
TA on the high timeframe:
1) bullish trend while the dollar index stands still
2) price is approaching a strong level, several months have passed since the last test.
TA on the low timeframe:
1) Price is testing the level, I don't think gold will break it from the first test
2) I am waiting for a false breakout or a bounce from the level.
3) Target in rebound phase: 1975, 1955
Key resistance: 1985
Key support: 1953
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