GOLD - Price can continue to move up inside rising channel
Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊
Recently price bounced from $1985 level and rose to resistance line, after which it bounced and made strong downward impulse to $1945
Then Gold reached resistance line again and bounced lower $1945 level, which coincided with support area.
After this, price entered to rising channel, where it in a short time rose back, making fake breakout of $1945 level.
Also soon, Gold broke resistance line and later reached $1985 level, which coincided with support area too.
Price broke this level, reached resistance line of channel, but not long time ago started to decline.
Possibly, Gold can decline to support area and then bounce up to $2020 resistance line of rising channel.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Recently price bounced from $1985 level and rose to resistance line, after which it bounced and made strong downward impulse to $1945
Then Gold reached resistance line again and bounced lower $1945 level, which coincided with support area.
After this, price entered to rising channel, where it in a short time rose back, making fake breakout of $1945 level.
Also soon, Gold broke resistance line and later reached $1985 level, which coincided with support area too.
Price broke this level, reached resistance line of channel, but not long time ago started to decline.
Possibly, Gold can decline to support area and then bounce up to $2020 resistance line of rising channel.
If this post is useful to you, you can support me with like/boost and advice in comments❤️