Gold continues its uptrend. This time the price makes a retest of the support level and the price tries to break the level. What's next?
The futures made a false attempt to break the upside support. The price made a strong drop on Friday and made a false-break test of 1999.29 (Fibo 0.5), and then we saw the retest and returned to the rising range.
Consolidation of the price above the Fibo level of 0.382 (key support level 2010) would form a strong entry point to buy.
Strong support: 2010 (false breakdown), upside range boundary
Strong resistance: 2025, 2032
I expect that a false break-down of the ascending support formed a huge liquidity potential, which can be directed to further growth
The futures made a false attempt to break the upside support. The price made a strong drop on Friday and made a false-break test of 1999.29 (Fibo 0.5), and then we saw the retest and returned to the rising range.
Consolidation of the price above the Fibo level of 0.382 (key support level 2010) would form a strong entry point to buy.
Strong support: 2010 (false breakdown), upside range boundary
Strong resistance: 2025, 2032
I expect that a false break-down of the ascending support formed a huge liquidity potential, which can be directed to further growth