Gold can bounce from buyer zone and start to move up
2735
Hello traders, I want share with you my opinion about Gold. By observing the chart, we can see that price not long time ago entered to downward channel, where it first fell to the 1940 resistance level, which coincides with the seller zone. After this, in a short time, Gold broke this level and continue to decline to support line of the downward channel. When the price fell to the support line, it bounced up ad tried to back up but failed and continued to decline to 1890 current resistance level, which coincide with the buyer zone. A few moments later, Gold reached the 1890 level, but soon it broke this level too and fell to the support line, which is located inside the buyer zone. And now the price continues to trade below the current resistance level inside the buyer zone. Probably Gold can make a little movement down and then start to grow to a resistance level. Then it can break this level, make a retest, and after this bounce higher of resistance line, thereby exiting from the downward channel. As well then Gold can continue to rise, therefore I set up my target at 1910. Please share this idea with your friends and click Boost 🚀
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Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.