THE MARKET HAS REACHED HERE TWICE ALREADY AND HAS BEEN REJECTED
IF YOU L0OK AT THE WAY THE MARKET HAS BEEN MOVING YOU CAN SEE THAT PRICE HAS REACHED THIS PRICE ABOUT 6 TIMES NOW SO WERE EITHER GONNA SEE THE MARKET REJECT THIS AREA ONCE AGAIN, OR WERE GONNA SEE THE MARKET SHOOT OUT OF THIS ZONE
ITS HITTING A SUPPORT ZONE THATS HELP UP THAT PAST COUPLE OF DAYS
we could see price get boosted back up If we see a rejection around 9250.00
LOOKING AT THE CHARTS RIGHT NOW YOU CAN SEE THAT IF PRICE IS GOING BELOW 109.000 THEN THE MARKET IS GONNA LOOK TO GO DOWN TO THE SUPPORT LINE DOWN AROUND 108.820
NEAR THE RESISTANCE LINE WE CAN SEE THAT PRICE IS GETTING REJECTED AND ITS FORMING A PIN BAR FORMATION SO WE COULD BE SEEING A BIG DROP IN THE MARKET
LOOKING AT PRICE RIGHT NOW WERE EITHER GONNA SEE A RETEST AT THIS RESISTANCE LINE, OR PRICE IS GONNA SHORT AND MAKE ITS WAY BACK INTO THE SUPPORT AND RESISTANCE LINE
so doing my technical analysis for charts I realized that this hour candlestick right now if it stays at its price its gonna be a bearish engulfing bar and if it can break out of this support line we could see price drop down too 1.09900 . if price is gonna jump off of this support zone and going up then im looking for a different entry and my tp is gonna be 1.10400
PRICE HAS PREVIOUSLY HIT THIS PRICE ACTION BEFORE IN JAN 1 2020 AND FAILED TO MAKE A NEW HIGHER HIGH, STUCK INBETWEEN A SUPPORT AND RESISTANCE AND BEING THE HIGH OF THE MONTH AND LAST MONTH. HIGH PROBABILTY THAT MARKET IS GONNA DROP.
gold is hitting a strong resistance line selling and have TP AT 1499.65 TP2 AT 1497.00
NO INDICATORS. TECHNICAL ANALYSIS AND PRICE ACTION. PRICE FAILED TO MAKE A HIGHER HIGH AN EVENING STAR APPEARED AND THEN A BEARISH ENGULFING BAR APPEARED 3 CONFIRMATIONS THAT PRICE IS GOING TO GET REJECTED AND EITHER A DOWN TREND OR CONSOLIDATION BETWEEN RESISTANCE: 108.173 SUPPORT:107.748