Gold can make little movement up and then continue to decline
Hello traders, I want share with you my opinion about Gold. Looking at the chart, we can see how the price a few days ago rebounded from the 1990 level, which coincided with the buyer zone and made an upward impulse to the resistance level, even rising higher. But soon, the price turned around and in a short time declined to the buyer zone, breaking the 2080 level one more time. Then price turned around in the buyer zone and started to rise near the support line. Some time later it rose to the seller zone, where it rebounded and started to decline inside the downward channel. In this channel, Gold broke one more time resistance level and support line, after which fell to the support line of the channel. Next, the price bounced and rose to the resistance line, but at once bounced and fell back to the support line. A not long time ago XAU bounced from this line one more time and started to move up inside the downward channel. So, in my mind, Gold can try to reach the resistance line of the channel, and then start to decline to the support level, or it rise a little rise and then fall to the support level. Therefore I set my target at the 1990 level. Please share this idea with your friends and click Boost 🚀
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