🏅GOLD - There is a high probability that the fall will continue

2023年5月18日

The gold makes a second attempt to advance on the level of 1977 and breaks this area. Time will show whether it is a false-break or a true breakout.

The TA on the high timeframe:
1) Gold makes a new local low and goes down to 1970.
2) The correction continues.
3) The downside target could be the 1954 level.

TA on low timeframe:
1) Price continues within the descending channel
2) The level of 1977 breaks down. The pullback to the level of 1954 is formed.
3) If the price breaks the level of 1977 and fails to break it, the price will continue falling towards the downtrend channel support
4) The trend is descending, and the key resistance for the moment is 1977

Key support: channel support
Key resistance: 1977