03/05/2024
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πhttps://www.tradingview.com/chart/XAUUSD/mE713mf5-XAUUSD-IDEA/
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°οΈπ π π π decreases volatility, smoothly moving into a consolidation phase before the publication of NFP. The market structure is bearish and the overall fundamentals are negative. What should we wait for?
Today is quite a busy news day, but all attention is focused on π€π€π€. The gold market is locally bearish and set for further decline. Breakout of 2295 and price consolidation below this area will form a bearish potential. But on the news background anything can happen, like a shakeout to 2328 before a further fall to 2250, or an attempt to break the trend resistance....
π‘Resistance levels: 2305, 2328, 2346
πSupport levels: 2295, 2280, 2267
πTechnically and fundamentally the market is weak and ready to conquer the lower liquidity zones, but there is news ahead. It is impossible to determine the movement in advance, but based on the general data, there is a probability to see the continuation of the decline.π²π»π²π»π²π»π²π»π²π»π²π»
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