Gold (GOLD) is currently correcting from its March 8th and March 26th highs.
Price was rejected at the upper bearish order block at R2 created by previous range highs.
It is currently testing the range denoted by our Directional Bias indicator created in early 2020 at S1.
If this range fails to hold as support we might look for the range at S2 created in 2019 and retested in Mid-March to hold as support once again.
Price was rejected at the upper bearish order block at R2 created by previous range highs.
It is currently testing the range denoted by our Directional Bias indicator created in early 2020 at S1.
If this range fails to hold as support we might look for the range at S2 created in 2019 and retested in Mid-March to hold as support once again.
Comment:
A new bearish order block has formed at the previous range at R2. So will be looking for a break above that or below S1.
