DeGRAM

DeGRAM | GOLD correction to resistance / Fall

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
The price of gold has touched a strong resistance for the second time around 1786.84.
The price is trying to break this line, but I expect a fall.
The main reason for the fall is the strong resistance line of August 2020.
For all the time there were only three line breakouts:
1 - peak in the first wave of Covid-19
2 - US elections in November
3 - post-election riots in January
As you can see, the breakouts were preceded by important events in the world.
This time I expect a drop from the resistance of 1786.84 to support.
The target is 1712.31.

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