GOLD false breakout and growth
During the downtrend, Gold was able to break through the support line 1782.28.
And fall to the support line 1764.61.
Both of these lines of support are very strong - one was formed in 2019 and the other in 2018.
Together they form a support zone and I expect that the price will not be able to fall below the second line.
I think that the breakout was false and after that the price will start to rise.
And this time the lines will act as a strong support for growth.
I expect growth in two phases
- first, the price will rise from the support and fix above the upper line.
- then from this line will rise to the resistance line 1861.77.
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Thank you for your support!
And fall to the support line 1764.61.
Both of these lines of support are very strong - one was formed in 2019 and the other in 2018.
Together they form a support zone and I expect that the price will not be able to fall below the second line.
I think that the breakout was false and after that the price will start to rise.
And this time the lines will act as a strong support for growth.
I expect growth in two phases
- first, the price will rise from the support and fix above the upper line.
- then from this line will rise to the resistance line 1861.77.
-------------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
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🔻FREE Telegram channel🔻
t.me/DeGRAMChannel
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t.me/DeGRAMForex
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