Gold May Be in a Multi-Year Top Range, Not an Immediate Breakdow
Gold may already be in a top-range structure, but that does not mean the trade is over.
The level I am watching now is 4000.
Gold has tested this area several times, but volume has been decreasing. That suggests supply may be getting absorbed. If the structure holds and demand improves, 4400 is the first area I would watch. If 4400 is reclaimed, 4890 becomes the larger test area.
Invalidation is simple: a clean loss of the 4000 structure.
I wrote the full multi-timeframe breakdown here:
kevinztrade.substack.com
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