🥇 GOLD - Consolidation after false resistance breakdown

٥ يناير ٢٠٢٤

GOLD is forming a bearish market sentiment after the false breakdown of 2047. Apparently, the market is forming a negative fundamental background and is preparing to make new lows. Technically, the bears continue to pressure the gold price and form a strong consolidation below the strong resistance

Prerequisites for further decline:

1) NFP may have a negative impact on the gold price
2) Yesterday formed a negative fundamental background
3) Support retest
4) Price consolidation under the strong level of 2047.9