GOLD - Price can make small correction and then bounce up

18 Nov 2024

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

Some days ago price declined in falling channel, where it fell below $2655 level and reached support line of channel.

Then price turned around and started to grow inside rising channel, where it soon reached $2655 level and broke it.

In this channel, price grew to resistance line and continued to move up near this line, until it reached $2790 points.

After this, price turned around and started to decline, exiting from rising channel and fell to $2655 level.

Soon, Gold broke this level too and fell to $2560 level, where it bounced from support area and started to grow recently.

I think that XAU can little correct to support level and then continue to move up to $2655 resistance level.

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