Gold trades in downward channel and can continue to decline
Hello traders, I want share with you my opinion about Gold. Looking at the chart, we can see how gold is currently trading inside the downward channel. Inside the channel, the price formed a resistance level 1835, from which it bounced back and continue to decline. Now the price is below the resistance level and may continue to fall into the buyer zone, which is located in the discount zone and coincide with the support line. Relying on the above analysis, I expect that price to drop to 1820, which coincide with the support line of channel. In the future, after retesting the support line of channel, which is in the the buyer zone, price may start moving up, so I update the idea for you as soon as the market situation changes. Please share this idea with your friends and click Boost 🚀
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💰Want receive more profitable signals for Crypto & Forex market, write me 👉 bit.ly/4fNijD8
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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.