GOLD - Price can turn around and start decline to support area
Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊
Some days ago price traded near $2030 support level, which coincided with support area and even declined below.
But later XAU turned around and in a short time rose higher $2030 level, breaking it, and continued to grow in rising channel.
In channel, price reached resistance line, after which Gold bounced and fell to support line and then made an upward impulse.
After this movement, Gold broke $2330 level, thereby exiting from channel too, and then price made retest.
Next, price in a short time rose to $2433 points and at once fell back, but now Gold trades near resistance line.
In my mind, XAU can rise a little higher than resistance line and then bounce down to $2305 support area.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Some days ago price traded near $2030 support level, which coincided with support area and even declined below.
But later XAU turned around and in a short time rose higher $2030 level, breaking it, and continued to grow in rising channel.
In channel, price reached resistance line, after which Gold bounced and fell to support line and then made an upward impulse.
After this movement, Gold broke $2330 level, thereby exiting from channel too, and then price made retest.
Next, price in a short time rose to $2433 points and at once fell back, but now Gold trades near resistance line.
In my mind, XAU can rise a little higher than resistance line and then bounce down to $2305 support area.
If this post is useful to you, you can support me with like/boost and advice in comments❤️