GOLD - Price can bounce up from support area to $2785
Aggiornato
Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊
Recently price entered to falling channel, where it at once fell below a support level, but soon backed up.
Then it continued to decline and later broke $2645 level one more time, after which reached the support line.
Gold bounced and exited from the falling channel, and started to grow inside the pennant, where it soon broke $2645 level again.
After this, the price made a first gap and later rose to $2735 level, where it some time traded near and broke it too.
Next, price made a second gap, reached the resistance line of the pennant, and then declined to the support area.
In my mind, Gold can little correct and then bounce up to $2785 from support area, exiting from pennant.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Recently price entered to falling channel, where it at once fell below a support level, but soon backed up.
Then it continued to decline and later broke $2645 level one more time, after which reached the support line.
Gold bounced and exited from the falling channel, and started to grow inside the pennant, where it soon broke $2645 level again.
After this, the price made a first gap and later rose to $2735 level, where it some time traded near and broke it too.
Next, price made a second gap, reached the resistance line of the pennant, and then declined to the support area.
In my mind, Gold can little correct and then bounce up to $2785 from support area, exiting from pennant.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Trade attivo
Great! Price exited from pennant and now trades inside the support area. That's why I think that price Gold can bounce up from this area to my target.
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