Hello traders, I want share with you my opinion about Gold. By observing the chart, we can see that the price started to grow inside the upward channel, where it rebounded from the support line at once and quickly rose to the resistance line. Then XAU made a correction to the support line, after which continued to grow inside the channel to the resistance level, which coincided with the seller zone. Soon, Gold broke the 2430 level and rose higher than the resistance line, thereby exiting from the upward channel. Next, the price entered to pennant, where it at once turned around and started to decline. In a short time, the price dropped lower 2430 level, breaking it, after which tried to grow but failed and declined more. Gold fell firstly to the 2375 support level, which coincided with the buyer zone, and soon broke it and fell until to the support line of the pennant. But then, the price started to grow from this line and in a short time rose higher than the 2375 level, breaking it and recently exited from the pennant also. At the moment, I think Gold can make a retest, after exiting from pennant and then continue to grow to the 2430 resistance level, therefore I set my TP at this level. Please share this idea with your friends and click Boost 🚀
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