GOLD is breaking the structure of the ascending channel amid the counter-trend correction of the dollar (fundamental reasons). Price closes in the range of 2526 - 2477, what could this mean?
On D1, the market is bullish both locally and globally. But, fundamentally and geopolitically the situation is slightly changing, which favorably affects the dollar exchange rate, against which gold goes into a local phase of correction. There is low liquidity in the market today due to the closed US market.
On H1, the focus is on the resistance 2505 - 2510, sma. False breakdown and price consolidation below these zones will confirm the absence of bullish potential, which may lead to price correction towards the lower boundary of the key range.
Support levels: 2483 (D1), 2493, 2477
Resistance levels: 2505, 2510, sma
The focus is on the global range 2526 - 2477, the price continues to trade inside and does not hint at a possible exit from this channel, accordingly, it is best to use the inturidian trading strategy. The main target is liquidity below the key support zones