HelenP. I Gold will continue to decline, breaking support level

6 days ago

Hi folks today I'm prepared for you Gold analytics. After an extended bullish phase that pushed the price higher within an upward channel, the market has started to show signs of weakness. Initially, gold moved steadily from the lower support zone, climbing through the channel and forming higher highs. Each pullback was supported by the rising trend line, reinforcing the bullish sentiment throughout the move. However, after reaching the peak near 3570, the price sharply reversed, breaking the trend line and shifting the overall structure. Sellers took control, leading to a breakdown below the channel, and now the price is consolidating near the 3260 - 3285 support zone. Recently, Gold tested the trend line from below but failed to reclaim it, which signals strong resistance overhead. Currently, gold is trading around 3319, just above the lower boundary of the broken channel and inside the support zone. I expect a small upward correction, breaking the trend line, and then followed by a continuation of the downward movement. So that's why I set goal is 3200 points. If you like my analytics you may support me with your like/comment ❤️

5 days ago

Trade active

Good! Price continued to fall and even reached the support zone, but recently rose to the trend line. I expect that the price can break the support level and continue to decline.

4 days ago

Trade closed manually

Price continued to trade in a range, close to the support level. So, I closed this trade.

FirstNameHelen

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FirstNameHelen

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