10:49 AM · 6 October 2020

❗ Technical alert: GOLD 🥇

Looking at the gold market on H4 interval, one can see that the price is once again testing the key resistance area. The zone marked with a purple colour on the screen below results from the upper limit of 1:1 structure and previous price reactions. According to the classic technical analysis, as long as the price sits below the $1,915, continuation of the downward move looks possible. However, one should keep in mind that the chance of breaking above increases with each subsequent test.

GOLD H4 interval. Source: xStation5

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Commodities
Technical analysis

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