XAU/USD Gold can exit of pennant and try break support level
Hi folks today I'm prepared for you Gold analytics. A few times ago price declined to the support zone, after which it at once rebounded up, thereby making a fake breakout of support 2. Then XAU some time traded near this level, after which it repeated movement down, below support 2 and in a short time backed up and started to grow. Later Gold entered to pennant, where it rebounded from the trend line and made impulse up to support 1, which coincided with one more support zone. Soon, the price broke this level and rose to the resistance line of the pennant, after which the price turned around and declined to the support zone. In this zone, the price some time traded, and a not long time ago Gold rebounded and started to move up. For my mind, Gold will rise to the resistance line of the pennant, after which it turns around and declines to the support level, thereby exiting from the pennant. Then, I think XAU can try to break the support level, make a retest, and continue to decline. For this case, I set my target at the 2110 level. If you like my analytics you may support me with your like/comment ❤️
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