GOLD FIX on resistance line and FALL
Step by step, the price will continue to move towards the target, which I have been adhering to for the second week. Namely - first growth, then decline.
Let me remind you that first the price touched the support zone 1798.58 and after a small false breakout it started a new growth.
Then it grew from this zone to the resistance line.
And yesterday the price increased a little more and reached our intermediate target - the resistance line 1847.71.
The price bounced off the line and started to move, but then made a correction and consolidated on the line. But as in the previous time, now I expect the price to continue falling from the resistance line. This movement also fits into the falling channel in which at the beginning of February there was already a similar situation - touching resistance and falling. Thus, my final target is the support line 1789.08.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Let me remind you that first the price touched the support zone 1798.58 and after a small false breakout it started a new growth.
Then it grew from this zone to the resistance line.
And yesterday the price increased a little more and reached our intermediate target - the resistance line 1847.71.
The price bounced off the line and started to move, but then made a correction and consolidated on the line. But as in the previous time, now I expect the price to continue falling from the resistance line. This movement also fits into the falling channel in which at the beginning of February there was already a similar situation - touching resistance and falling. Thus, my final target is the support line 1789.08.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
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