GOLD touch RESISTANCE zone and FALL

1 feb 2021

Throughout the last week, we expected that the price would take advantage of the support and start growing. As a result, the price first came to the support level of 1835.39 and bounced off it.

Then it corrected to the support line 1834.43 and continued to rise towards the resistance.

After the price touched the resistance line, it rolled back, but now it's back to resistance - a strong zone at the intersection of two lines. One of them is April 2020, the second is May 2019.

I expect the price to finish rising first and touch this resistance zone at 1875.57. Then it will drop to the support level. So the final target I expect is support level 1798.58.

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