Gold can bounce to resistance level, break it and continue grow
Hello traders, I want share with you my opinion about Gold. Observing the chart, we can see how the price some days ago declined from the seller zone to the current resistance level, which coincides with the resistance area. After this price bounced up and made impulse higher of seller zone, with a resistance level, but soon rolled down to the support level, breaking the current resistance level and entering to the range. Inside the range, the price tried to rise back and some time rose to the resistance area, but Gold didn't fix it there and soon continue to fall. After the range, Gold declined below a support level, which coincide with the buyer zone, and a some time traded there and a not long time ago bounced up and continue to move up. I think that Gold can rise to a resistance level and after it reaches it, the price makes a little correction. Then Gold can break the resistance level and continue to move up. For this case, I set two targets, the first target is located at resistance level - 1980 and the second at the 2000 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
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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.