Gold can break through the support line of wedge and go down
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Today, I want to talk to you about the XAU/USD chart.
Looking at the chart, we can see how the gold has formed an ascending wedge and is traded inside this wedge.
Now the price is below the resistance line.
The price has tested the resistance line and can start to go down.
I expect the price can start going down and then even break the support line.
The price can break through the support line and drop to a level 1690.
Therefore, I see 2 targets for gold.
The first goal is at the breakdown level of the support line 1725, the second target is at 1690
This is my opinion, I really hope it will be useful for you.
Make big profits!
Today, I want to talk to you about the XAU/USD chart.
Looking at the chart, we can see how the gold has formed an ascending wedge and is traded inside this wedge.
Now the price is below the resistance line.
The price has tested the resistance line and can start to go down.
I expect the price can start going down and then even break the support line.
The price can break through the support line and drop to a level 1690.
Therefore, I see 2 targets for gold.
The first goal is at the breakdown level of the support line 1725, the second target is at 1690
This is my opinion, I really hope it will be useful for you.
Make big profits!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.