HelenP. I Gold can fall below trend line and then rebound up
Hi folks today I'm prepared for you Gold analytics. If we look at the chart we can see how the price some time ago dropped below support 2, which coincided with the support zone, breaking it. Then price some time traded near this level and later even rebounded higher, but soon dropped back to the trend line. Then Gold started to grow near this line and soon broke support 2 one more time. Lare price reached support 1, which coincided with one more support zone, and some time traded near this level until it broke the trend line and fell a little below. After this movement, Gold turned around and made a strong impulse up to the trend line, breaking support 1, and then it made little correction movement. Then the price continued to move up and a not long time ago reached the trend line again and broke it. Just now, the price trades near this line and I expect that XAUUSD will decline below the trend line, making a correction movement, and then it rebound up. That's why I set my goal at 2710 points. If you like my analytics you may support me with your like/comment ❤️
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.