Gold trades in channel and can fall to support line
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Hello traders, I want share with you my opinion about Gold. Looking at the chart, we see how Gold, after several tests of the buyer zone, began an upward movement. The price reached the resistance area 2025-2030 and, after a downward correction, continued to rise and broke through it. Gold did not trade long above the resistance area and immediately began to fall. Over time, the price has created an upward channel and is now trading in the within. After retesting the support line of the channel, the Gold continued its upward movement, broke through the resistance area, and made a big fake breakout the resistance line of the channel. Not long ago, the price returned to the within of the channel and, after an upward correction, retested the resistance line of the channel, continued to fall and broke through the current support area. Currently, the price is trading below the resistance area and can continue to fall. I think the price can make an upward correction, retest the resistance zone and go down to the channel support line. So I set the targets for Gold at level 2000 and at leve1980 with coincide which support line of channel. Please share this idea with your friends and click Boost 🚀
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Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.