GOLD continues to falling to support line
Gold is hitting the bottom of the old up channel right now.
Thus, fulfilling all my previous forecasts for the week.
1. After the breakdown of the support line, the price began to rise.
2. The price continued to rise and touched a strong resistance line.
This resistance line starts working from the beginning of August 2020.
But also, a strong level ( 1911.54) passes next to it, which will give additional resistance.
Now the price is exactly on the support line (1881.79) - the lower line of the ascending channel.
And I expect that she has enough resources to break that line and fall.
Of course, the fall will not be sharp, I admit corrections and pullbacks. Nevertheless - the target is the support line (1838.75).
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Share your opinion in the comments and support the idea with likes.
Thank you for your support!
Thus, fulfilling all my previous forecasts for the week.
1. After the breakdown of the support line, the price began to rise.
2. The price continued to rise and touched a strong resistance line.
This resistance line starts working from the beginning of August 2020.
But also, a strong level ( 1911.54) passes next to it, which will give additional resistance.
Now the price is exactly on the support line (1881.79) - the lower line of the ascending channel.
And I expect that she has enough resources to break that line and fall.
Of course, the fall will not be sharp, I admit corrections and pullbacks. Nevertheless - the target is the support line (1838.75).
--------------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
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