🏅GOLD - Bulls may try to fight back in the 1939-1947 zone

15 Haz 2023

The bears do not allow gold to even pass the local 1960-1970 resistance area. The value of the metal is melting and we see a breakout of the range support, accompanied by a huge surge in volumes.

TA on the high timeframe:
1) Price exits the range and is in the red zone.
2) The new range that price enters is wide enough, the bulls will attack the 1935 area trying to strengthen and return to the range

TA on the low timeframe:
1) the market maker is interested in the 1939 area, as there were many sales from this level, there are stop signs to close and to buy, there is a chance that the price can rise to 1939-1947 before the further fall
2) After the resistance retest, the price may continue falling, the nearest targets may be 1928 and 1912
3) The price performs a pullback after making a local low, 1928, which might reach resistance 1939.

Key resistance: 1939, 1947.
Key support: 1928, 1912