GOLD pause in RESISTANCE zone and FALL

22. Apr. 2021

The rise in the price of gold has continued since the beginning of the week, however, correction in relation to the main downtrend that has existed since August 2020. Having bounced off the level of 1679.67 at the end of April, the price began to grow. During this growth, it was able to break through the support line of August 2020 - 1737.17. After that, it fixed on it and continued to grow.

At the beginning of this week, the price came to the resistance line 1784.21. This is the trend line for August 2020. The price tried to break through the line, but the strong resistance level of 1792.36 immediately passed. Therefore, I am sure that the price will not be able to break through it and continue to grow. I expect the price to fall from this resistance zone, fix on the line at 1766.23 and come to the support line at 1713.65. 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👩‍💻