🥇GOLD - Forming a breakout pattern and growth continuation
Gold amid a rally halt after a breakout of the global downtrend forms a pattern of breakout and continued upside.
TA on the high timeframe:
1) After the breakout and trend change, the price stops and forms consolidation. The absence of a fall will be regarded as the readiness of the market to continue growth
2) Consolidation is formed near 1960
TA on the low timeframe:
1) against the background of stopping the rally, the price forms a flag
2) The bullish pattern will start its realization after the price breaks the resistance of the figures. In this case the instrument will get a new potential
3) The important zone for us is 1959-1963. The price going beyond it can form an impulse of 1% and reach the area of 1980
Key support📉: 1953
Key resistance📈: 1959, 1963
TA on the high timeframe:
1) After the breakout and trend change, the price stops and forms consolidation. The absence of a fall will be regarded as the readiness of the market to continue growth
2) Consolidation is formed near 1960
TA on the low timeframe:
1) against the background of stopping the rally, the price forms a flag
2) The bullish pattern will start its realization after the price breaks the resistance of the figures. In this case the instrument will get a new potential
3) The important zone for us is 1959-1963. The price going beyond it can form an impulse of 1% and reach the area of 1980
Key support📉: 1953
Key resistance📈: 1959, 1963
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