GOLD Analysis for New Year
Gold can continue to fall and reach support line of channel
Gold has formed an upward channel and is traded inside.
We can also see how the price bounced off the resistance line and begin to decline and broke through support level.
Now the price is trading close to the resistance level and can rise and test it.
I expect that Gold, after a possible retest of the resistance level, can bounce back and drop to the support line of channel.
Therefore, for Gold, I decided to set goal at levels 1800_1750_1720, which coincide with the support line.
i expect such a scenario.
this is an article not financial advice, always do your own research.
Gold has formed an upward channel and is traded inside.
We can also see how the price bounced off the resistance line and begin to decline and broke through support level.
Now the price is trading close to the resistance level and can rise and test it.
I expect that Gold, after a possible retest of the resistance level, can bounce back and drop to the support line of channel.
Therefore, for Gold, I decided to set goal at levels 1800_1750_1720, which coincide with the support line.
i expect such a scenario.
this is an article not financial advice, always do your own research.
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