GOLD - Price can reach resistance level and then start to fall
Updated
Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in commentsđź‘Š
A few days ago price declined in falling channel, where it at once broke $2715 level and fell to support line of channel.
Then price moved up to resistance line of channel and then continued to decline to $2536 points.
Gold broke $2605 level but soon it made an upward impulse, exiting from a channel and breaking $2605 level again.
Also, price started to trades inside flat, where it twice reached resistance level and then dropped to support line.
After this, Gold exited from flat and started to grow near support line, and later it bounced from this line.
Now, I think that XAU can reach resistance level and then start to decline to $2625 support line.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
A few days ago price declined in falling channel, where it at once broke $2715 level and fell to support line of channel.
Then price moved up to resistance line of channel and then continued to decline to $2536 points.
Gold broke $2605 level but soon it made an upward impulse, exiting from a channel and breaking $2605 level again.
Also, price started to trades inside flat, where it twice reached resistance level and then dropped to support line.
After this, Gold exited from flat and started to grow near support line, and later it bounced from this line.
Now, I think that XAU can reach resistance level and then start to decline to $2625 support line.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Trade active
Okay, the price declined a little. For this case, I think that Gold will make a small move up and then drop to the support line:
Trade closed manually
Still waiting for when the price to reach the resistance level and then start to decline.
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