GOLD start new GROWTH from SUPPORT zone

Gold continues to move within the strong support level of 1847.33. Let me remind you that after the growth from the support line 1829.20, the price was able to break through this level, and then doubled down on it making small false breakouts.

The support line, the lower border of the ascending channel, which began to form in November 2020, prevents the price from falling below the level. And now the price is exactly at the intersection of the call support and the support line of this channel.

Therefore, I expect that in the near future the price will rise from this support zone of 1847.33, and in the process of a rise, which will certainly contain both corrections and pullbacks, it will reach the upper border of the ascending channel. So my target is the resistance line 1889.04.

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻