GOLD → The situation remains the same. Consolidation

5. Okt. 2023

XAUUSD continues to consolidate, therefore, the market situation remains the same. The probable outcome of events is a false break of resistance (retest of liquidity area) before further decline

The market has been forming consolidation inside the important range of 1828 - 1812 for the last few days. Liquidity is forming above these boundaries, which the market maker (with high probability) will not miss. In priority, I expect a surge in volumes at the next retest of the resistance area and the formation of a false breakdown. Local strengthening of the price may reach such areas as 1830, 1835, 1840. In the medium term, I expect a further fall, but after reaching local targets. The global target is an important support area, which is indicated on the senior timeframe: Weekly chart on the left (blue level). The moving averages indicate a strong trend. A sell signal can be formed relative to 1828.2, 1833.3, 1835.5

Support levels: 1812, 1807. 1800
Resistance levels: 1828.2

In the long term I expect a continuation of the fall, but a small bullish correction may follow before this movement

XAUUSD XAGUSD GC1! MGC1! SI1! DXY

Regards R. Linda!