Short

Gold can continue to fall and break support level $2000

Hello traders, I want share with you my opinion about Gold. Looking at the chart, we see how the price broke through the resistance area 1970-1975 and continued to rise. Gold approached the level 2050, formed a resistance area 2045-2055, from which it began to decline. Over time, Gold created a downward wedge in which it traded for a long time. The price, after retesting the support area, began to rise, broke through the resistance line of wedge, and continued to move up. Subsequently, Gold reached the resistance area 2045-2055 and made a fake breakout. After a small correction and retest of the resistance area, the price generated a downward impulse and fell to the support level. Having test the support level, Gold rose to the resistance area and, after a retest, bounce off and continue to decline. The price is now trading close to the 2000 level and can continue to fall and break through it. I think that Gold can continue downward move, so I decided to set the targets at level 2000 and in the zone 1975-1970. Please share this idea with your friends and click Boost 🚀

LegionQ8

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LegionQ8

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