The recent strong price increase puts the current price of gold at the resistance level last Monday. Is gold able to make the price increase or decrease?
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For analysis, looking from this situation, the potential for the increase is still there but needs to manage to pass the highest price of 1755.00 to get comfortable space for the movement.
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But since at 1755.00 resistance is referred to as resistance and also there is a trendline that has been tested a few hours ago. The upside potential is likely to stop so far, and the price is likely to go down if it really happens
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The horizontal movement early this morning only tested the zone and is still below the highest price
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Through this probability, the potential risk and reward can reach 1: 2 to 1: 5 so that there is a downward momentum and risk setting above the highest needle in the past day.
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