Gold trades in channel and can fall to support line
Hello traders, I want share with you my opinion about Gold. Looking at the chart, we see how Gold, after several tests of the buyer zone, began an upward movement. The price reached the resistance area 2025-2030 and, after a downward correction, continued to rise and broke through it. Gold did not trade long above the resistance area and immediately began to fall. Over time, the price has created an upward channel and is now trading in the within. After retesting the support line of the channel, the Gold continued its upward movement, broke through the resistance area, and made a big fake breakout the resistance line of the channel. Not long ago, the price returned to the within of the channel and, after an upward correction, retested the resistance line of the channel, continued to fall and broke through the current support area. Currently, the price is trading below the resistance area and can continue to fall. I think the price can make an upward correction, retest the resistance zone and go down to the channel support line. So I set the targets for Gold at level 2000 and at leve1980 with coincide which support line of channel. 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
💰Want receive more profitable signals for Crypto & Forex market, write me 👉 bit.ly/4fNijD8
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.