GOLD - Price can break support level and continue to fall
Updated
Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in commentsđź‘Š
A few moments ago price entered to falling channel, where it at once reached $2400 level and then bounced down.
After this, Gold fell to $2305 level, which coincided with support area, and at once bounced up to resistance line of channel.
Soon price fell lower $2305 level, after which in a short time turned around and started to grow in rising channel.
Then price broke $2305 level, made retest, rose to $2400 level, and soon broke it too, exiting from rising channel as well.
Also, Gold tried to rise more, but failed and recently declined to support area, where now continues to trades near.
Possible, price can break support level, make retest, and continue to decline to $2350
If this post is useful to you, you can support me with like/boost and advice in comments❤️
A few moments ago price entered to falling channel, where it at once reached $2400 level and then bounced down.
After this, Gold fell to $2305 level, which coincided with support area, and at once bounced up to resistance line of channel.
Soon price fell lower $2305 level, after which in a short time turned around and started to grow in rising channel.
Then price broke $2305 level, made retest, rose to $2400 level, and soon broke it too, exiting from rising channel as well.
Also, Gold tried to rise more, but failed and recently declined to support area, where now continues to trades near.
Possible, price can break support level, make retest, and continue to decline to $2350
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Comment
Perfect! Gold declined as I thought, so, in my mind price will decline to 2335 points and then turn around and bounce up to the $2410 resistance areaDisclaimer
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