Gold can break resistance line and continue to move up
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 started to grow inside the upward channel, where it soon broke the support level, which coincided with the buyer zone. After this, Gold made a retest and continued to grow in the channel and soon reached the resistance line, but at once rebounded and made a correction movement to support line of the channel. Then price rebounded from the support line and in a short time rose to the resistance level and also broke it and grew to the channel's resistance line. As well then, XAU exited from the channel and reached the resistance line, after which turned around and fell firstly to the 2405 resistance level, broke it again, and declined to the 2330 support level. After this, the price bounced from this level and tried to rise, but after some movement up, it rolled down to the buyer zone. A few moments ago, the price rebounded from this area and rose to the resistance line, which continues to trade near. In my opinion, the price can correct to the support level and then rebound up, higher than the resistance line, breaking it. For this case, I set my target at 2380 points. Please share this idea with your friends and click Boost 🚀
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