From this line, the price started a new growth and eventually managed to break through the of 1847.31, and then come to the resistance line 1872.96. This corresponds to the first scenario of price movement, which I talked about at the beginning of the week.
It is worth clarifying that the resistance line to which the price has approached is very strong. The first touch of this line occurred in May 2019. Therefore, now I continue to expect that, before continuing to move along the first option, the price will reverse from this line and fall.
This drop can be regarded as a correction to the previous growth. I expect the price to come to the of 1847.33.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
They want easy money and markets are not easy. And we never must try to short a bull trend. That's why always on any bull trend we find people that whants to sell, is amazing that.
Always someone against the trend.
She most stay Bullish on Gold on Medium Term. Of course this preview, was for Daytrading. But she is more a swingtrader.
No doubt that she will post on the next preview a vision Bullish on Gold, because she knows, after this retracement Gold goes Up.
You are a Longtrader profile like me. Of course fundamentals support Gold for Bullish moves.