GOLD - Price can reach resistance line of channel and start fall
Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊
Some time ago price declined below $2375 level, which coincided with resistance area, but soon backed up and some time traded near.
Later, Gold made downward impulse to support level, breaking $2375 level, after which price bounced up and started to fall in channel.
In channel, XAU reached resistance line and then in a short time declined to support area, but soon rose back, making fake breakout.
Next, Gold some time traded between $2300 level, and a not long time ago it bounced up from support area and now continues to grow.
In my mind, Gold can reach resistance line and then bounce down to almost $2275 support line of channel, breaking support level.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Some time ago price declined below $2375 level, which coincided with resistance area, but soon backed up and some time traded near.
Later, Gold made downward impulse to support level, breaking $2375 level, after which price bounced up and started to fall in channel.
In channel, XAU reached resistance line and then in a short time declined to support area, but soon rose back, making fake breakout.
Next, Gold some time traded between $2300 level, and a not long time ago it bounced up from support area and now continues to grow.
In my mind, Gold can reach resistance line and then bounce down to almost $2275 support line of channel, breaking support level.
If this post is useful to you, you can support me with like/boost and advice in comments❤️