DeGRAM | GOLD second touch of resistance and fall
After rising from the support level 1685.17 the price:
- broke through the support of August 2020 - 1713.61
- broke through the support for July 2020 1742.67.
- came to resistance 1800.97.
Since the end of April, the price has been moving along it.
I expect the price to make a second touch of the resistance at 1786.88.
And then it will fall to the support.
Reasons for the fall:
- strong trend line resistance August 2020
- the first touch of the line at 1800.97
- the beginning of the fall but consolidation towards the line (can be regarded as a good consolidation).
The target is 1719.24.
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Share your opinion in the comments and support the idea with likes.
Thank you for your support!
- broke through the support of August 2020 - 1713.61
- broke through the support for July 2020 1742.67.
- came to resistance 1800.97.
Since the end of April, the price has been moving along it.
I expect the price to make a second touch of the resistance at 1786.88.
And then it will fall to the support.
Reasons for the fall:
- strong trend line resistance August 2020
- the first touch of the line at 1800.97
- the beginning of the fall but consolidation towards the line (can be regarded as a good consolidation).
The target is 1719.24.
--------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
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