I really like the reaction of gold on a major blue resistance cluster based on a horizontal daily structure and a falling trend line.
With bearish engulfing candle formation on a daily, chances are high that the price will turn bearish next week.
Though, signs of weakness make me reassess the initial goal.
1806 - 1810 is the closest minor support cluster that I would consider for the first goal and 1765 - 1780 as the second.
I will be bullish biased in case of a daily violation of the underlined blue zone.
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✅Join My Telegram Channel: t.me/VasilyTrading
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.