Gold will make downward movement to support level
Hello traders, I want share with you my opinion about Gold. Looking at the chart, we can see how the price trades in the range, where it long time trading near the current support level, which coincided with the support area and top part of the range. After this, the price turned around and made a small movement up, after which rose back to the support area and soon started to decline to the bottom part of the range. When Gold fell to this part, it broke the 2485 level and declined a little below, thereby exiting from the range. Then the price started to an upward channel, where it broke the 2485 level one more time and in a short time rose to the resistance line of the channel and then made a correction to the support line. Next price continued to move up inside the channel and soon reached the 2525 level, after which made small correction to the support line of the channel. After this, Gold made a strong upward impulse, thereby breaking the 2525 level, and later exited from the channel. At the moment, the price continues to move up, so, in my opinion, Gold can make a downward movement to the support level. For this case, I set two TP, first at the 2550 points, and second at the 2525 level. Please share this idea with your friends and click Boost 🚀
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