Since mid-summer, gold has been in a long-term downtrend. More recently, however, it has come to a strong support zone. First, the price broke through this zone during the fall, then bounced off the level of 1764.94 and once again broke through the zone, but this time during the growth.
As a result, the support was so strong that the price continues to rise. And throughout the whole week we have been watching gold rise after the breakdown of a strong support zone. And now it is practically in the middle of the downtrend between the support and resistance lines.
Despite the fact that the price has been "marking time" over the past few days, I expect it to complete the uptrend to the resistance line and touch it at point 1869.46.
Traders, if you liked this idea or have your opinion on it, write in the comments. I will be glad👩💻
As a result, the support was so strong that the price continues to rise. And throughout the whole week we have been watching gold rise after the breakdown of a strong support zone. And now it is practically in the middle of the downtrend between the support and resistance lines.
Despite the fact that the price has been "marking time" over the past few days, I expect it to complete the uptrend to the resistance line and touch it at point 1869.46.
Traders, if you liked this idea or have your opinion on it, write in the comments. I will be glad👩💻
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