Gold might revert to the trend line following a rising rise
Hello everyone, today I'm ready to provide you with Gold analytics. A few days ago, we saw a big upward movement in the market, but before that, Gold traded near support 2, which coincided with the support zone. Then it rebounded and surged to 2727 points before correcting even below support 2, but then it reversed and began trading inside the wedge. Price plummeted below the trend line and immediately rebounded, shattering the second support level and continuing to climb higher along this line.Gold ascended for a long time along this line, but on the fourth touch, it rebounded and reached the first support level, which corresponded with another support zone. Then it corrected to practically the trend line before quickly rising back to the first support, breaking it, and exiting the wedge. It then retested and increased its score to 2880 points. Now, I expect XAUUSD to make a correction to the trend line, which is positioned within the support zone. That's why I set my target at 2800 points, which corresponds to them. If you appreciate my analytics, please support me with a like or remark.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.