DeGRAM | GOLD breakout, consolidation and fallThe latest forecast continues to come true.
Namely: the price rose to resistance and reversed in the fall.
In early March, the price bounced off the 1684.17 support.
After that, the price had two growth stages.
After the first jump from the level, the price stopped at the resistance line 1752.90 (July 2020).
Then she fell back to level again.
After the second bounce, the price came to the same resistance line.
Made a false break.
Now the price is at the resistance of 1737.31.
I expect the price to be:
- will consolidate at the resistance of 1732.85.
- will fall to support.
The target is 1684.17.
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Sgort
GOLD correction on line and start fallGold is still shaping the movement I have been talking about since the start of the week - fall.
My yesterday's forecast is coming true - the price has risen to the resistance line.
By itself, this line is not very strong.
However, it is located near a strong resistance zone (intersection of three lines).
It should be forced to break through the support line and fall to the support zone at the intersection of the lines.
All lines on the chart especially strengthen the two forming the channel
The channel has existed since October 2019 and right now the price is moving near its upper border.
I expect it to touch the resistance line and then fall off.
The goal is a support zone.
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US500 open sell tradeMy last predictions came true.
1. At the end of last month, the price fell to the support level (a sell trade). touched him and jumped away.
2. Then it rose to the resistance level, simultaneously breaking through another support level.
Now the price has reached the resistance level, touched it, corrected itself and starts to fall again.
I'm opening a sale. SL - resistance level. TP - support level.
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