GOLD pause at SUPPORT zone before new GROWTH
Gold price is still in the support zone 1698.61. Let me remind you that it came to this zone after it fell from the resistance zone of 1817.90 last month. And so far the price has not been able to recover in positions. Nevertheless, I patiently await growth.
The price is in a strong support zone, which is formed by two strong lines. One of them is August 2020, the second is May 2016.
And it is the influence of these two lines that gives me reason to expect the price to rise. Thus, I believe that in the near future the price will bounce off the support at 1698.61 and rise to the resistance line at 1790.05.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
The price is in a strong support zone, which is formed by two strong lines. One of them is August 2020, the second is May 2016.
And it is the influence of these two lines that gives me reason to expect the price to rise. Thus, I believe that in the near future the price will bounce off the support at 1698.61 and rise to the resistance line at 1790.05.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
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