GOLD → Bulls and bears still can't split the 2300 area

25 Nis

XAUUSD is forming a sideways range and continues to test a strong resistance area. Bulls and bears continue to fight and still cannot share a strong area. Possible shake-up.

Gold is in the active phase of the correction, which started as early as last Friday and we were ready for it. The price is already down 5.7% from the high and most likely this is not the limit. A descending price channel starts to appear on H1, which generally determines the medium-term outlook for us.
Below the zone of 2330 a range is formed with the purpose of accumulation of potential. At the same time the price is testing resistance and there may be a shakeout or price entry into deeper liquidity areas with the purpose of further decline.



Resistance levels: 2330, 2355, 2365
Support levels: 2305, 2290, 2267

The liquidity area on the resistance side may be tested with the aim of further decline, as the market is currently in a downward correction phase.

Regards R. Linda!

25 Nis

İşlem aktif

A shakeup is forming on the back of the news.
The fundamental situation is neutral
US GDP - negative background for the dollar
Initial Jobless Claims - positive background for the dollar