🏅GOLD - Retest of support, the bears are not ready yet

٢ مايو ٢٠٢٣

Gold is gradually rebuilding the local boundaries of the descending wedge. By the end of yesterday's trading session, on the background of the news, the price makes a shake-up, today another attempt to break the local resistance is formed.

TA on the high timeframe:
1) We still have a global uptrend
2) The bulls are stubbornly resisting and trying to hold the 1980-1985 zone

TA on the low timeframe:
1) Price breaks downward resistance. A price fixation above the line will form a bullish momentum
2) Still bearish potential at the moment. Until the price breaks the key resistance of 1990-2000, it is not worth talking about global growth, there is still global range resistance ahead.
3) It is more likely that the price may rise to 1990-1995 or to 2000, but in the mid-term the price can go back to support 1980-1985.

Key support 1982
Key resistance 1988, 1995, 2000