GOLD - Price can make small correction, and then start to grow
Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊
A few days ago price bounced from resistance line to support line of wedge, breaking $2005 level, which coincided with support area.
Then price turned around and made strong upward impulse to resistance line, breaking $2005 and $2065 levels.
But then Gold bounced and entered to falling channel, where it exited from wedge, broke $2065 level, and continued to fall.
In channel, price declined to support level, after which it turned around and made upward impulse to $2065 level.
Also, XAU exited from channel and a not long time ago it bounced from resistance level and now trades below.
In my mind, Gold can correct to $2015 points, after which it turns around and starts rise to $2050
If this post is useful to you, you can support me with like/boost and advice in comments❤️
A few days ago price bounced from resistance line to support line of wedge, breaking $2005 level, which coincided with support area.
Then price turned around and made strong upward impulse to resistance line, breaking $2005 and $2065 levels.
But then Gold bounced and entered to falling channel, where it exited from wedge, broke $2065 level, and continued to fall.
In channel, price declined to support level, after which it turned around and made upward impulse to $2065 level.
Also, XAU exited from channel and a not long time ago it bounced from resistance level and now trades below.
In my mind, Gold can correct to $2015 points, after which it turns around and starts rise to $2050
If this post is useful to you, you can support me with like/boost and advice in comments❤️