Here’s 👉 an UPDATE on the 4HR chart time-frame of the #GOLD.
I discussed about GOLD in my last market analysis update and we can see price is still respecting my last Gold update.
Price carved a potential rising wedge which technically have high tendency of a bearish implication and price is struggling @1695.18 resistance key-level which is also the resistance key structure of last swing high in this year 2020.
Suppport1 acts @1610.78 and Support2 @15445.94. A 4HR close above Resistance @1695.18 may interest bull to target next swing highest zone of Gold in this year and which may trigger breakout to a new swing high.
Alternatively if the bears steps in and successfully make a rotation of price below dynamic support trend-line thereby ensuring a daily close below this level may serve as point of interest for bears to re-test support which acts @1610.78.
Take note: The overall trend of Gold is in a long-term bullish trend.
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