HelenP. I Gold can drop of trend line lower than support level
Hi folks today I'm prepared for you Gold analytics. If we look at the chart we can see how the price some days ago price started to grow inside the upward channel, between the trend line and when it almost reached the resistance line, the price dropped to the support line, breaking the trend line. Then XAU made a fake breakout of the support line of the channel and then in a short time rose higher than support 2, breaking this level and then continued to grow. Price reached the trend line and some time traded near, and later it made impulse up to support 1, breaking the trend line. Also then, the price broke support 1 and even exited from the channel, but soon turned around and made a correction movement below support 1 and the trend line, breaking them. After this, the price tried to grow back, but when reached the trend line, it dropped more. A few moments ago Gold turned around and quickly rose to the trend line again, breaking support 1, and now trades near this level. For this reason, I expect that XAUUSD will reach the trend line again and then drop to $2390 points, breaking the support level. If you like my analytics you may support me with your like/comment ❤️
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