I disagree, it has been in an uptrend for a long term now, a lower low doesn't mean it will make another lower low, that lower low could become a support, thus moving in a range for a while. Price broke easily the 39.60$ level that could potentially become a support now. In addition to that the price is above your moving average which is a sign of strength.
cryptoject
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@merabtene lol you’re both long and short on gold, that says enough about your analysis 🙃
merabtene
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@cryptoject, LOL, If you can read a chart you would've known that it means to go in the direction the price breaks out of the wedge it can break either ways, I don't have a crystal ball like you to predict in advance what would happen, I just follow the price action. Good luck with your trade mate, I hope you manage to make a ton of money. Peace.
cryptoject
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@merabtene price can only go two ways mate. Elite analysis 😅 Hope this helps