GOLD - Price can drop to support line of triangle pattern

5 Jun

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

In this chart price formed a triangle pattern, where it first declined to support line and then made an impulse up.

After this, Gold broke $3165 level and, after a small correction reached and broke $3400 level too.

Then it rose to resistance line of triangle and dropped below $3400 level, breaking it one more time.

Price tried to back up, but failed and dropped more to support line of triangle, after which started to grow.

In a short time price rose to resistance line of triangle, which coincided with resistance level and area.

Now, I think that Gold can drop from resistance area to $3250 point of support line of triangle.

If this post is useful to you, you can support me with like/boost and advice in comments❤️

Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.

6 Jun

Dagangan aktif

Great! Price started to decline.

7 Jun

Dagangan ditutup: sasaran tercapai

I expect that price will reach my target on Monday! Keep monitoring.