DeGRAM

GOLD fix on support zone and start grow

Long
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
Step by step, the price is approaching our main goal. Namely: to the resistance line 1873.36.
First, the price came to the intersection of the resistance lines.
Then fell to a strong support zone .
Now it continues to form a movement in the support zone , moving along the upper line.
As I said, this support zone is incredibly strong: it is formed by two lines (2018 and 2019) and a support level .
The line on which the price is now "stuck" - August 2019 - 1808.52. And this was already enough to stop the fall.
I expect the price to bounce off the line and rise to the resistance of 1873.36.

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Comments

im waiting for 1778 which means fibo 1.618 level , here is the idea
+1 Reply
DeGRAM Wolf_of_Trading
@Wolf_of_Trading, Interesting idea
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Update for astro, gold to begin bullish around now, until end fri. Mon, tue is bearish. So we may only see 1820s tomorrow then back to 1800. Will update next week. I think 1850 area gone until march. As mentioned still expecting huge bearish pressure. Could give little up moves, but mostly a trap, this could go sub 1700, lets see.
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thanks for chart
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DeGRAM Lingrid
@Lingrid, Welcome
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Love this thank you
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DeGRAM ukiretoops
@ukiretoops, You are welcome
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This has potential
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DeGRAM play112
@play112, Thanks bro
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gold will drop some more after a small correction
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