GOLD is testing support amid the news we received on Wednesday. False breakout increases local liquidity in the market, after which the price strengthens.
Prerequisites for growth:
1) False break of support against the background of an ascending channel is a strong signal for a possible continuation of the trend
2) Gold is still under the influence of increased interest on the background of geopolitics related to the Middle East.
3) Price breaks through the 1984 level after a false breakdown
4) Consolidation of price above the 1984 level will provide an ideal buy entry point
Key resistance: 2004
Key support: 1984, 1977
Prerequisites for growth:
1) False break of support against the background of an ascending channel is a strong signal for a possible continuation of the trend
2) Gold is still under the influence of increased interest on the background of geopolitics related to the Middle East.
3) Price breaks through the 1984 level after a false breakdown
4) Consolidation of price above the 1984 level will provide an ideal buy entry point
Key resistance: 2004
Key support: 1984, 1977
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