Gold can make retest of resistance level and then bounce down
Hello traders, I want share with you my opinion about Gold. By observing the chart we can see that a few days ago the price declined from the seller zone to the 1940 level. After this Gold started trading between the seller zone and this level, and also price made a fake breakout, after which, it rose to the seller zone and entered to the downward channel. In the channel price finally broke the 1940 level and continued to fall to the next level, which coincide with the support line. Then the price bounced from the support line to the resistance line and recently Gold bounced down, broke the 1910 level, and now trades below it. I think that price can rise a little to the current resistance level and then bounce down to the support line of the downward channel. For this reason, I set up two targets, the first target at the 1900 level, and the second - at the 1890 level. Please share this idea with your friends and click Boost 🚀
🔷Join my telegram channel for free - bit.ly/4g4wovR
💰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.
🔷Join my telegram channel for free - bit.ly/4g4wovR
💰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.