GOLD: will it bounce off the support or punch it?
Answering the question in the title - we can expect that the price will bounce off the support, since this is a strong level. It was from this level that the price began to rise last spring at the beginning of the pandemic. And it is part of the support zone that the price came to in early March. So after the price dropped from the resistance at 1736.63 to the support at 1677.45, we can expect a reversal and new growth towards the resistance at 1722.35.
SL - 1658.76.
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
SL - 1658.76.
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
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