GOLD FALL and leave ascending channel

17 thg 5, 2021

After the price broke through the support zone 1802.36, it rallied and reversed for a correction.

During the correction, the price fixed at the support line 1807.68.

And from this line it grew to the resistance line 1860.10.

This is a strong resistance line that is the main one for the downtrend that the price has been following since August 2020. I now expect the price to touch this line at 1859.19. After that, it will fall, break through consecutively: the support line of the ascending channel 1818.16, the support line of March 2018 of 1810.41 and the level of support 1798.86. So our final target is support line 1782.14.

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