GOLD - Price can decline to support line of triangle
Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in commentsđź‘Š
Some days ago price bounced from $2320 level and then entered to wedge, where it at once fell lower than support level.
After this, price in a short time rose higher than $2320 level, breaking it again, but soon fell back to support line of wedge.
Next, XAU made strong upward impulse to resistance line, breaking $2320 and $2430 levels, after which turned around.
Gold broke $2430 level and later entered to triangle, where it rose higher resistance level again.
But a not long time ago price fell back to support line, after which it bounced up and now trades close resistance line.
In my mind, price can reach and at once bounce down from resistance area to $2375 support line of triangle.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Some days ago price bounced from $2320 level and then entered to wedge, where it at once fell lower than support level.
After this, price in a short time rose higher than $2320 level, breaking it again, but soon fell back to support line of wedge.
Next, XAU made strong upward impulse to resistance line, breaking $2320 and $2430 levels, after which turned around.
Gold broke $2430 level and later entered to triangle, where it rose higher resistance level again.
But a not long time ago price fell back to support line, after which it bounced up and now trades close resistance line.
In my mind, price can reach and at once bounce down from resistance area to $2375 support line of triangle.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Note
OK. Gold entered the resistance area, next movement, I expect that it can bounce down to $2375
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