GOLD return on SUPPORT level and GROW

15 Jan 2021

Yesterday I expected that after falling beyond the level, the price would use the support line at 1824.91 and rise back to the resistance level. As you can see, this is what happened.

Let me remind you that the price was able to break the strong level after it collapsed from the resistance zone 1956.82 last week. However, the fall was stopped by a strong support line that has existed on the chart since August 2020.

During this week, the price tried to rise from this line and break through the level during the growth, but so far it continues to move within this small support zone. It is important that the first breakout of this level since 2018 occurred in the summer of 2020, when the price rose to an annual high and reversed in a downtrend.

Now I expect that the price will not return to the trend, but will resume its growth and come to the resistance zone of 1953.86. This is our goal.

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻