GOLD - Price can fall to support line of wedge and start to grow

3 thg 10

Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊

Some days ago price traded between $2400 level, which coincided with support area, and later started to grow in broadening wedge.

In this pattern, price in a short time rose to resistance line, thereby breaking the last time $2400 level.

Next, Gold made a correction to support line of wedge and at once turned around and made upward impulse.

Then price reached and at once broke $2635 level and then rose to resistance line of wedge, but recently started to decline.

In my mind, Gold can decline almost to support line of broadening wedge, breaking support level.

After this, price will start to move up to $2720 points, breaking $2635 level one more time.

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4 thg 10

Giao dịch đang hoạt động

So, I think Gold can fall to support area and then bounce up to ($2735) resistance line of broadening wedge:

5 thg 10

Giao dịch đang hoạt động

Gold declined to support level and started to grow, so, I think it will repeat this movement again and then continue to grow to my target.

6 thg 10

Giao dịch đang hoạt động

In my mind, now, Gold can make a correction below the support level and then bounce up to $2725: