GOLD fall in several steps
Gold came to the resistance of 1849.21 and fell.
This is a strong resistance line (first touched in 2019).
However, there is a support line (the upper line of the falling channel).
Therefore, I expect that the price will not continue falling immediately.
After the price bounced off the support at 1823.17, I expect Gold to move as follows.
- first break through the resistance line 1851.12 and come to the resistance 1861.28.
- then it will fall from strong resistance and break through the channel line 1811.74.
- will consolidate on the line in the area of 1807.299 and fall to the support zone.
Target - 1767.28
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Thank you for your support!
This is a strong resistance line (first touched in 2019).
However, there is a support line (the upper line of the falling channel).
Therefore, I expect that the price will not continue falling immediately.
After the price bounced off the support at 1823.17, I expect Gold to move as follows.
- first break through the resistance line 1851.12 and come to the resistance 1861.28.
- then it will fall from strong resistance and break through the channel line 1811.74.
- will consolidate on the line in the area of 1807.299 and fall to the support zone.
Target - 1767.28
---------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
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