Hey Everyone! After a shining week for gold and giving back some of the gains, i think it's fallen enough and there may be a buying opportunity at this level. - The Black Channel : Price hit all time high level and touched upper border of the shown channel. now it's sitting at the bottom of it where i think is a strong support. - The Blue Channel : A very strong horizontal zone that price validated it's significance by several touch and reverse. - There is a 1:1 measured move from points AB. - The Red Line : A 45 degree line. very strong barrier providing support at this level. - If we draw a trend line from point B to ATH pivot, half of this trend rate will be crossing from this level.
And at the end it's all probabilities and market decides no matter what we think or believe.
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