GOLD analysis of the situation + SIGNAL recommendations
So, what is happening now with gold from the side of TECHNICAL ANALYSIS.
1. The price has been in a descending channel for a long time - if you work with technical analysis, you understand that there was a high probability that the price would move down from the upper border of the channel.
What happened: EXIT from CHANNEL (marked with a yellow circle).
2. In such a situation, I now expect the price to consolidate (a slight downward movement) and further growth.
3. Under such conditions, I expect the price to go up in the long term. Our target will be the resistance line - the lower line of the rising channel.
RECOMMENDATIONS FOR SIGNAL OPENING:
TP - Nearest resistance line - around 2000
SL - Below strong support level at 1798
Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩💻
1. The price has been in a descending channel for a long time - if you work with technical analysis, you understand that there was a high probability that the price would move down from the upper border of the channel.
What happened: EXIT from CHANNEL (marked with a yellow circle).
2. In such a situation, I now expect the price to consolidate (a slight downward movement) and further growth.
3. Under such conditions, I expect the price to go up in the long term. Our target will be the resistance line - the lower line of the rising channel.
RECOMMENDATIONS FOR SIGNAL OPENING:
TP - Nearest resistance line - around 2000
SL - Below strong support level at 1798
Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩💻
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