LegionQ8

Gold can break resistance line and continue to move up

Long
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
Hello traders, I want share with you my opinion about Gold. Looking at Gold, we see how the price, after a bounced from the level 2080, began a downward movement. The price continued to fall and subsequently broke through the level 1985. For some time, the price traded below the current resistance level and, after a small correction, the price tested it and continued to decline. Gold formed the buyer zone 1930-1940, from which it rose and approached the level 1985. The price retested the resistance line and began to fall. Not long ago, Gold made a deep downward correction, retested the buyer zone, and continued to grow. Approaching the resistance line, the price did not test it and began to decline. Perhaps Gold is currently making a downward correctional movement, after which it can continue to grow and break through the resistance line. I think that the price can drop a little more, after which it can break through the resistance line and continue upward movement. In this case, I decided to set the targets at the level 1965, which coincide with the resistance line, and at the level 1985. Please share this idea with your friends and click Boost 🚀

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