Gold Consolidating Near Long-Term Trendline
Gold has been in a long-term downtrend on the 12-hour timeframe and has been attempting to break this trendline for almost 2 days now.
Should it break the trendline, it faces a significant resistance range
2055 - 2062
We expect a reaction to this resistance after breaking the trendline, with a potential pullback to the broken trendline followed by its own upward move towards 2070.
In case it fails to break the downtrend line, we may witness a downward movement towards a key support range at 2020.
Should it break the trendline, it faces a significant resistance range
2055 - 2062
We expect a reaction to this resistance after breaking the trendline, with a potential pullback to the broken trendline followed by its own upward move towards 2070.
In case it fails to break the downtrend line, we may witness a downward movement towards a key support range at 2020.
Comment:
Very exciting and swift 🌟 Our target for gold 2077 has been hit!
