GOLD ! False breakout. Correction to support
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Gold updates local peaks with strong growth. We have a local level of 1976.8, which the price has rewritten and is consolidating at this level without an impulse, which would mean a continuation of the price growth.
Local consolidation does not rewrite tops (look at the lower timeframe). Consolidation is formed at the level
with the primary fixing of the price below the level of 1977, it makes sense to expect a fall
I suppose if the price goes under the level of 1977 and consolidates below it, then we can see a slight correction. The first target is support 1966, and the second is the far level 1949.
Sincerely, R. Linda!
Local consolidation does not rewrite tops (look at the lower timeframe). Consolidation is formed at the level
with the primary fixing of the price below the level of 1977, it makes sense to expect a fall
I suppose if the price goes under the level of 1977 and consolidates below it, then we can see a slight correction. The first target is support 1966, and the second is the far level 1949.
Sincerely, R. Linda!
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