Gold can fall to support level, after which it turn around up
Hello traders, I want share with you my opinion about Gold. By observing the chart, we can see that the price some time ago price rebounded from the 2010 support level, rose to the 2075 resistance level, and in a short time broke this level, but soon fell back, making a fake breakout. Next, the price continued to fall to the support line of the wedge, breaking the support level, which that moment coincided with the buyer zone. After this movement, Gold turned around and made a strong upward impulse to the resistance line, breaking 2010 and 2075 levels, after which the price rebounded from the resistance line and started to fall. In a short time, XAU declined to the buyer zone, breaking the resistance level again. Then price bounced and started to grow near the support line of the wedge and soon reached the resistance line. Next, Gold exited from the wedge pattern and a not long time ago XAU made a retest, after which continued to trades near the support line. So, I think that Gold can continue to decline to the support level, after which it turns around and rebounds up. Therefore I set my target at the 2050 level. Please share this idea with your friends and click Boost 🚀
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