✴️ GOLD Daily timeframe. March 9
Gold refuses to test the strong support at 1802 and is now headed for the retest of the 100 SMA.
1) The price movement is fading and some sort of sideways range of 1857-1809 is starting to form
2) The level of 1821 might carry the key stage in the near future. Breakdown of this zone can send the price to 1850
3) The trend is bearish, and the bearish candlestick, which was formed on Tuesday, implies that the fall might continue.
4) False break-down of resistance at 1845 is also a strong signal.
5) But, for now, the support area successfully holds the price after the strong fall.
1) The price movement is fading and some sort of sideways range of 1857-1809 is starting to form
2) The level of 1821 might carry the key stage in the near future. Breakdown of this zone can send the price to 1850
3) The trend is bearish, and the bearish candlestick, which was formed on Tuesday, implies that the fall might continue.
4) False break-down of resistance at 1845 is also a strong signal.
5) But, for now, the support area successfully holds the price after the strong fall.
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❤️ Telegram channel: t.me/AndeWave
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