GOLD - Price can bounce down from resistance line to $2275
Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in commentsđź‘Š
Some days ago price bounced from the support level, which coincided with the support area, and rose to the resistance area.
Also then, Gold started to decline inside wedge, where it fell until to support line of this pattern, breaking $2310 level.
Then price made a strong upward impulse to $2425 level, breaking $2310 level again, and exited from wedge too.
Next, price made fake breakout of $2425 level and started to decline near resistance line to almost support level.
At the moment, price continue to decline and I think that Gold can reach resistance line and then bounce down.
After this, XAU can fall to support level, break it, and continue to decline to $2275
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Some days ago price bounced from the support level, which coincided with the support area, and rose to the resistance area.
Also then, Gold started to decline inside wedge, where it fell until to support line of this pattern, breaking $2310 level.
Then price made a strong upward impulse to $2425 level, breaking $2310 level again, and exited from wedge too.
Next, price made fake breakout of $2425 level and started to decline near resistance line to almost support level.
At the moment, price continue to decline and I think that Gold can reach resistance line and then bounce down.
After this, XAU can fall to support level, break it, and continue to decline to $2275
If this post is useful to you, you can support me with like/boost and advice in comments❤️
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