GOLD starts new GROWTH from strong SUPPORT zone

8. Feb. 2021

The last trading week brought us a very impressive profit, and all my predictions from the beginning of the week came true. Let me remind you - on February 1, we talked about the fact that the price will fall to a strong resistance zone and until Friday I extended this forecast.

During the fall, the price broke through the strong resistance line, after which it reversed in a small correction.

In its next step, the price continued to fall towards a strong support zone.

As a result, the price came to the zone, touched it and started a new growth, as we expected last Friday.

Now the price is in the process of rallying from the strong support zone of 1798.58. Let me remind you that in this area two lines of August 2020 and a strong support level intersect.

Therefore, now I expect the price to continue its growth and in the course of it will come to the resistance line 1850.07.

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻