GOLD - Price can rise a little and then correct to support area

14 Apr

Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊

A few days ago price traded inside a rising channel, showing steady growth and holding above support levels.

Later, Gold made several breakouts from local resistances and continued to rise within the channel borders.

Eventually price reached the upper edge of the channel and formed a local top around the $3238 level.

Recently, it made a short-term pullback and now trades just above $3165 support zone without momentum.

Currently, Gold stays in the upper part of the range but shows early weakness after a strong bullish rally.

In my opinion, Gold can decline and reach the $3140 support level during the next corrective wave down.

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15 Apr

Dagangan aktif

Gold declined, so I think it will continue to fall next to the support area.