Short

Gold can rebound from resistance level and start fall to 1900

Hello traders, I want share with you my opinion about Gold. By observing the chart, we can see that the price a not long time ago price entered to falling channel, where the price first fell to the 1915 resistance level, which coincise with the seller zone. But soon, the price broke this level and continued to decline until below the 1890 support level and buyer zone. After Gold touched the support line of the channel, it made a fake breakout and then rebounded up to the resistance line. Some time later price exited from the downward channel, made a correction to the 1890 support level, and then made an upward impulse to a higher resistance level, thereby breaking it. Also, Gold rose higher of the seller zone, but soon it rolled down and fell below the 1915 level, a few time later price bounced back to the resistance level and at the moment it trades very close to this level. I think that Gold can rise a little higher resistance level and then start to decline. Therefore I set up my target at the 1900. Please share this idea with your friends and click Boost 🚀

LegionQ8

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LegionQ8

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