HelenP. I Gold will fall to trend line and then continue to rise

27 Nov

Hi folks today I'm prepared for you Gold analytics. If we look at the chart we can see how the price traded inside consolidation, where it at once fell to the resistance zone, which coincided with the resistance zone. Price some time traded inside this zone and then rose to the top part of the range, after which turned around and declined back to the resistance zone. Later, the price broke the 2720 resistance level, exiting from consolidation, and continued to fall next. But Gold tried to grow and failed, after which dropped tothe 2605 support level, which coincided with the support zone and even broke this level. Price fell to the trend line, after which started to grow and soon reached the support level again. Gold broke this level one more time and continued to move up until to resistance level. When the price reached this level, it at once turned around and made an impulse down to the trend line, which coincided with the 2605 support level. A not long time ago price continued to grow next, so, in my mind, XAUUSD will fall to the trend line again and then rise to the resistance level. That's why I set my goal at a 2720 resistance level. If you like my analytics you may support me with your like/comment ❤️