🥇 GOLD - Bounce off support
Gold is falling, but as part of a correction against the main global trend. After 3 weeks, the price is heading to the support to test this area. After such a period of time there is little chance to break this support, besides we have no preconditions for it.
Prerequisites for a possible rebound:
1) Globally - bullish trend
2) Fundamentally - incomprehensible dollar, which is preparing to decline
3) Strong local trend support area
4) Key level 1940.39
5) Either a bounce or a false breakdown of support may follow.
Key resistance: 1969
Key support: 1940
Prerequisites for a possible rebound:
1) Globally - bullish trend
2) Fundamentally - incomprehensible dollar, which is preparing to decline
3) Strong local trend support area
4) Key level 1940.39
5) Either a bounce or a false breakdown of support may follow.
Key resistance: 1969
Key support: 1940
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