Gold can bounce from resistance line and decline to 1890
Hello traders, I want share with you my opinion about Gold. Looking at the chart, we can see that price a few days ago declined below the resistance level which coincide with the seller zone, and even soon declined lower. But then, Gold bounced up to the resistance level and started to decline inside the downward channel, in which the price after a few time broke the support level and fell below the buyer zone. After this, the price at once rolled up to the resistance line of the channel, thereby making a fake breakout of the support level, and also recently Gold made a little correction. At the moment price continues to trade near to resistance line of the downward channel and I think Gold can rise to the resistance line again and then bounce down to the support level. As well maybe the price can try to break this level, make retest, and continue to fall. Therefore I set up my target at the 1890 level. Please share this idea with your friends and click Boost 🚀
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💰Want receive more profitable signals for Crypto & Forex market, write me 👉 bit.ly/4fNijD8
💰Want receive more profitable signals for Crypto & Forex market, write me 👉 bit.ly/4fNijD8
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.