GOLD FIX in RESISTANCE zone and FALL
Gold has also been following a small uptrend since the beginning of this week, but already now we can talk about the cessation of the rise and the price reversal in the fall. Thus, my previous forecast is in the process of being fulfilled.
The reason for the price growth is the strong support level of 1675.91 from which it bounced off earlier this month. After the start of growth, the price was able to break through the support line at 1740.56. And then the level 1763.79. However, immediately there is a resistance zone formed by the level, the line of August 2020 and the line of March 2018. Therefore, the price could not break through the strong resistance, but turned around and began to fall.
I expect the price to consolidate at the 1763.79 level after which it will drop at the 1719.69 support line. This will be our goal.
Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩💻
The reason for the price growth is the strong support level of 1675.91 from which it bounced off earlier this month. After the start of growth, the price was able to break through the support line at 1740.56. And then the level 1763.79. However, immediately there is a resistance zone formed by the level, the line of August 2020 and the line of March 2018. Therefore, the price could not break through the strong resistance, but turned around and began to fall.
I expect the price to consolidate at the 1763.79 level after which it will drop at the 1719.69 support line. This will be our goal.
Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩💻
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